Question 1

Question 01 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 01 Chapter 1 of +2 Part-1
1. (Subscription)Calculate subscription income from the following details obtained from Tendulkar Club.

Rs.

(a)
Subscription received
2,25,000

(b)
Subscription due in opening
60,000

(c)
Subscription received in the advance opening
15,000

(d)
Subscriptions due but not received closing 
45,000

(e)
Subscription received in advance closing
30,000

The solution of Question 01 Chapter 1 of +2 Part-1: - 
In the Books of Railway Club Receipts and P

Question 2

Question 02 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 02 Chapter 1 of +2 Part-1
2. (Subscription) Find out the amount to be credited to Income and Expenditure Account for the year ended 31-3-2015. Subscription received during the year Rs.2,26,800

Particulars 
01-04-14
31-03-15

Subscription due
18,900
25,200

Subscription in Advance
23,100
4,200

The solution of Question 02 Chapter 1 of +2 Part-1: - 
Calculation of Amount of Subscription:

Particulars
Amount

Subscription received During the year
2,26,800

Add: - Subscription

Question 3

Question 03 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 03 Chapter 1 of +2 Part-1
3. (Subscription) From the following information, calculate the amount of subscription to be shown in the Income and Expenditure Account for the year ending 31-3-2015.

Particulars 
2014
2015
2016

Subscription received
600
14,000
800

Subscription outstanding for 2015 was Rs.500
The solution of Question 03 Chapter 1 of +2 Part-1: - 
Amount of Subscription for the year ending 31-3-2015:

Particulars
Amount

Subscription received During the year
14,000

Question 4

Question 04 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 04 Chapter 1 of +2- Part-1 
4. (Subscription) Find out the income from the subscription of India Hockey Club:

(a)
Subscription received during the year
151,200

(b)
Subscription outstanding opening
6,300

(c)
Subscription advance opening
14,700

(d) 
Subscription advance closing
8,400

(e)
Subscription outstanding closing
10,500

The solution of Question 04 Chapter 1 of +2 Part-1: - 
Income and Expenditure Account

Particulars
Amount
Particulars
Amount

By Subscription

Question 5

Question 05 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 05 Chapter 1 of +2- Part-1
5. (Subscription) Receipts and Payments account of Rotary Club disclosed that it has received Rs 20,000 by way of subscriptions for the year ended on 31-03-2015:

Rs.

(a)
Subscription outstanding on 1-4-2014 (Out of which Rs.3,500 were received in 2014-15)
5,000

(b)
Subscription Outstanding on 31-3-2015 for 2014-15
6,400

(c)
Subscription received in advance on 31-3-2014
3,000

(d)
Subscription received in advance on 31-3-2015
4,100

Show how t

Question 6

Question 06 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 06 Chapter 1 of +2 Part-1
6. (Subscription Account) Prepare subscription account from the information given below:

Rs.

(a)
Subscription received during the year
30,000

(b)
Subscription due but not received (opening)
8,000

(c)
Subscription received in advance (opening)
2,000

(d)
Subscriptions due but not received (closing) 
6,000

(e)
Subscription received in advance (closing)
4,000

The solution of Question 06 Chapter 1 of +2 Part-1: - 
Subscription Account

Partic

Question 7

Question 07 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 07 Chapter 1 of +2 Part-1
7. (Subscription) Find out the amount of subscription to be credited to Income and Expenditure Account of Lions Club for the accounting year ended 31-12-2015 from the following information:
Subscription Received for 2014 – Rs.480; 2015 – Rs.25,320 and 2016 – Rs 960. There are 1800 active members of the club and each has to subscribe Rs 15 annually. Rs 540 were in arrears for 2014 at the beginning of the year 2015.
The solution of Question 07 Chapter 1 of +2 Pa

Question 8

Question 08 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 08 Chapter 1 of +2- Part-1
8. How will you deal with the following items while preparing the Income and Expenditure Account and Balance Sheet for the year ended 31-3-2015.
Receipts and Payment A/c

Receipts 
 
Amount
Payments 
Amount

To Subscription A/c 
31-03-14
25,000

31-03-15
90,000

31-03-16
10,000

The club has 500 members each paying Rs. 200. Subscription outstanding on 31-3-14 was Rs.28,000.
The solution of Question 08 Chapter 1 of +2 Part-1: - 
Income a

Question 9

Question 09 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 09 Chapter 1 of +2-Part-1
9. Subscriptions received during the year ended March 31, 2015, by Indus Club were as under :

Particulars 
Amount

2013-2014
3,000

2014-2015
93,000

2015-2016
2,000

The club has 500 members each paying Rs. 200 as an annual subscription. Subscription outstanding as of 31-3-14 was Rs. 6,000. Calculate the amount of subscription to be shown as income in the income and expenditure account for the year ended 31 March 2015 and show the relevant data in th

Question 10

Question 10 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 10 Chapter 1 of +2- Part-1
10. Find out the amount of subscription to be shown in the Income and Expenditure account for the year 2014-15.

Particulars 
Amount

2013-2014
3,500

2014-2015
49,000

2015-2016
1,800

Club has 600 members, each paying an annual subscription of Rs. 100; Rs.3900 were in arrears for 2013-14 on 1.4.2014: 32 members had paid the subscription for 2014-15 in the year 2013-14.Also, indicate the amount to be credited to be taken in the opening and closing ba

Question 11

Question 11 Chapter 1 of +2-Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 11 Chapter 1 of +2-Part-1
11. You are required to show subscription in Income and Expenditure account and relevant information in the Balance Sheet.

Receipts 
Amount
Payments 
Amount

To Subscription A/c: 31-3-2014
25,000

31-03-15
90,000

31-03-16
10,000

Additional Information:Subscription Outstanding 31-3-2015 - Rs. 10,000Subscription Outstanding 31-3-2014 - Rs. 30,000Subscription Received in advance 31-3-2014 – Rs. 7,000
The solution of Question 11 Chapter 1 of

Question 12

Question 12 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 12 Chapter 1 of +2-Part-1
12. Extracts of Receipts and Payments account for the year ended 31-3-2015 are given below:

Receipts 
Amount
Payments 
Amount

To Subscription A/c: 31-3-2014
1,500

31-03-15
48,000

31-03-16
1,250

Rs.

(a)
Subscription outstanding on 31.3.2014
2,500

(b)
Total Subscriptions outstanding as on 31.3.2015
6,000

(c)
Subscription received in advance as on 31.3.2014
1,400

Calculate the amount of subscription to be shown on the inco

Question 13

Question 13 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 13 Chapter 1 of +2- Part-1
13. (Subscription) There are 900 members in a society, each paying an annual subscription of Rs. 10 each. Subscription received in advance at the beginning and at the end of the year was Rs.2600 and Rs. 2800 respectively. Subscription unpaid at the beginning of the year Rs.1,400, Subscription received during the year Rs.8,000. Calculate the subscription unpaid at the end.
The solution of Question 13 Chapter 1 of +2 Part-1: - 
Calculation of Amount of Subscrip

Question 14

Question 14 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 14 Chapter 1 of +2-Part-1
14. A club has 300 members. Each member pays Rs.100 annual subscription. Subscription Rs.2,800 is outstanding on 31-3-2010.

Receipts 
Amount
Payments 
Amount

To Subscription A/c :

31-03-14
700

31-03-15
28,000

31-03-16
2,500
31,200

You are required to show the above items in the Income and Expenditure account for the year ended31-3-10 and in the Balance Sheet as of that date.
The solution of Question 14 Chapter 1 of +2

Question 15

Question 15 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 15 Chapter 1 of +2 Part-1
15. (Medicine Consumption) Calculate the amount of expenditure on medicine to be debited to Income and Expenditure account for the year ending 31-3-2015:

Particulars 
01-04-14
31-03-15

Stock of medicines
22,500
19,200

Creditors for medicines
6,000
7,800

Amount paid for medicines during the year Rs.57,000.
The solution of Question 15 Chapter 1 of +2 Part-1: - 
Amount of Expenditure to be debited to Income and Expenditure account:

₹

Amount paid

Question 16

Question 16 Chapter 1 of +2- Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 16 Chapter 1 of +2- Part-1
16. (Sports Material Consumption/B/S Treatment) Show the treatment of the following items in Income and Expenditure Account for the year ending 31-3-15 and opening balance sheet and closing balance sheet :

Particulars 
31-03-14
31-03-15

The stock of Sports material
20,000
30,000

Amount due to suppliers
6,000
5,000

Advances to suppliers of sports material
3,000
1,000

During the year ending 31-3-15, the payments made to creditors amounted to Rs.40,0

Question 17

Question 17 Chapter 1 of +2-Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 17 Chapter 1 of +2-Part-1
17. (Stationary Consumption) Calculate what amount should be posted to the Income and Expenditure Account for the year ended 31.12.2015.

Particulars 
Rs.

The stock of Stationary on 1.1.2015
750

Creditors for stationary on 1.1.2015
500

The stock of stationery on 31.12.2015
125

Amount paid for stationary during the year
2,700

Creditors for stationary on 31.12.2015
325

The solution of Question 17 Chapter 1 of +2 Part-1: - 
Income and Expenditure A

Question 18

Question 18 Chapter 1 of +2-Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 18 Chapter 1 of +2-Part-1
18. (Sports Material Consumption) Calculate the amount of sports material to be charged to Income and Expenditure account for the year ended 31-3-15.

Particulars 
Rs.

Sports material on 1.1.2014
9,000

Sports material on 31.3.2015
8,000

Creditors for sports material on 1.4.2014
4,000

Cash paid to creditors
38,000

Creditors for sports material on 31.3.2015
7,000

The solution of Question 18 Chapter 1 of +2-Part-1: - 
Income and Expenditure Accou

Question 19

Question 19 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 19 Chapter 1 of +2-Part-1
19. (Stationary Consumption) Calculate the amount to be posted to the Income and Expenditure account for 31-3-15.

Particulars 
Rs.

The stock of Stationary on 1.4.2014
800

Creditors for stationary on 1.4.2014
300

Advance paid for stationary carried forward from last year
90

The stock of stationery on 31.03.2015
80

Advance paid for stationary on  31.03.2015
120

Amount paid for stationary during the year 2014 -15
3,040

Creditors for stationary o

Question 20

Question 20 Chapter 1 of +2 Part-1 - USHA Publication  12 Class Part - 1

Sarbjit Singh · Accepted Answer

Question 20 Chapter 1 of +2-Part-1
20. (Stationary Consumption) Calculate the amount of stationary to be posted in Income and Expenditure account for the year ended 31-3-15.

Particulars 
Rs.

Stock of Stationary on 1.4.2014
900

Creditors for stationary on 1.4.2014
600

Advance paid for stationary 1.4.2014
60

Stock of stationery on 31.03.2015
150

Advance paid for stationary on  31.03.2015
90

Amount paid for stationary 
3,240

Creditors for stationary on 31.03.2015
390

The soluti

Particulars	Amount	Particulars	Amount
To Balance c/d (Outstanding at the beginning)	60,000	By Balance b/d (Received in Advance of opening)	15,000
To Income and Expenditure A/c (B.fig.)	1,95,000	By Cash A/c	2,25,000
To Balance b/d (Received in Advance at the end)	30,000	By Balance c/d (Outstanding at the end)	45,000
	2,85,000		2,85,000

		Rs.
(a)	Subscription received	2,25,000
(b)	Subscription due in opening	60,000
(c)	Subscription received in the advance opening	15,000
(d)	Subscriptions due but not received closing	45,000
(e)	Subscription received in advance closing	30,000

USHA Publication Class 12 Part 1 2023 Solutions Chapter No. 1 – Financial Statements of Not-for-Profit Organisations, USHA Publication +2 Part 1 2023

Quick Chapter Summary & Cheat Sheet

💡 Double Entry Accounting Principles

Topics & Questions Solved:

Table of Contents

Question 01 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

The solution of Question 01 Chapter 1 of +2 Part-1: -

Question 02 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 03 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 04 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 05 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 06 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 07 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 08 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 09 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 10 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 11 Chapter 1 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 12 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 13 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 14 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 15 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 16 Chapter 1 of +2- Part-1 - USHA Publication 12 Class Part - 1

Question 17 Chapter 1 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 18 Chapter 1 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 19 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 20 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 21 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 22 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 23 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 24 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 25 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 26 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 27 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 28 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 29 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 30 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 31 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 32 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 33 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 34 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 35 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 36 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 37 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 38 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 39 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 40 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 41 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 42 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 43 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 44 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 45 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 46 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 47 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 48 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 49 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

Question 50 Chapter 1 of +2 Part-1 - USHA Publication 12 Class Part - 1

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