Question 1

Question No 1 Chapter No 01 - V K Publications Class 12

Sarbjit Singh · Accepted Answer

Question No 1 Chapter No 01 - V K Publications Class 12
1. Show how would you deal with the following items of prize fund of Players' Club. March, 2018:

Particulars
₹

Prize Fund 
2,70,000

Prize Fund Investments 
2,70,000

Income from Prize Fund Investments
27,000

Prizes awarded from sale of investments at par
60,000

The Solution of Question No 1 Chapter No 01 - V K Publications Class 12
Players’ Club Balance Sheet as at 31st March 2018

Liabilities 
Amount
Assets
Amount

Prize F

Question 2

Question No 2 Chapter No 01 - V K Publications Class 12

Sarbjit Singh · Accepted Answer

Question No 2 Chapter No 01 - V K Publications Class 12
2. Show the amount of match expenses and match fund in appropriate booke from the following information of a Sports Club:

Particulars
₹

Match Fund
1,20,000

Match expenses
2,25,000

Donation for Match Fund received during the year
39,000

Sale of Match Tickets
54,000

The Solution of Question No 2 Chapter No 01 - V K Publications Class 12
Sports Club Income and Expenditure Account (Extract) for the year ended 31st March 2017

E

Question 3

Question No 3 Chapter No 01 - V K Publications Class 12

Sarbjit Singh · Accepted Answer

Question No 2 Chapter No 01 - V K Publications Class 12
3. Show how you would deal with the Building Fund of Tagore Public School:

Particulars
₹

Balance of Building Fun
6,00,000

Donations received from the students for Building
9,00,000

Donations received from the donors for Building
12.00.000

Expenditure incurred on the construction of Auditorium
25,00,000

Capital Fund
8,00,000

The Solution of Question No 3 Chapter No 01 - V K Publications Class 12
Balance Sheet of Tagore Publi

Question 4

Question No 4 Chapter No 01 - V K Publications Class 12

Sarbjit Singh · Accepted Answer

Question No 4 Chapter No 01 - V K Publications Class 12
4. How would you deal with the Tournament Fund of Ambala Cricket Club:

Particulars
₹

Tournament Fund as on 31st March 2018
5,00,000

10% Tournament Fund Investment as on 31st March, 2018
5,00,000

Contribution collected for tournament during the year 2017-18
3,00,000

Interest received on tournament fund investments during the year 2017-18
25,000

Expenditure incurred on tournament
3,50,000

The Solution of Question No 4 Chapter

Question 5

Question no 5 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 5 Chapter 1 V K Publication class 12
5. From the following information, draft Receipts and Payments Account of Working Ladies Club, Delhi, for the year ended March 31, 2018:Cash on 1st April, 2017 ₹ 880; Subscriptions ₹ 7,520: Donation ₹ 1,600; Entrance Fees ₹ 860; Rent realised from club hall ₹ 1,050; Electricity charges ₹ R488 Taxes ₹ 300; Depreciation ₹ 1,040; Salaries and Wages ₹ 4,300; Honorarium to Secretary ₹ 500; Interest received on Investment ₹ R590 Printing and Stationery

Question 6

Question no 6 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 6 Chapter 1 V K Publication class 12
6. From the information given below, draft the Receipts and Payments A/c of Lions Club, Delhi for the year ended March 31, 2018:

Particulars
₹
Particulars
₹

Cash in Hand on 1.4.2017
4,400
Salaries and Wages
21,500

Subscriptions
37,600
Honorarium to Secretary
2,500

Donation
8,000
Interest received on Investments
2,950

Entrance Fees
4,300
Printing and Stationery
350

Rent received from Club Hall
5,250
Petty Cash Payments
900

Electrici

Question 7

Question no 7 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 7 Chapter 1 V K Publication class 12
7. From the following information, prepare the Income and Expenditure Account of Friends Club on 31st March, 2018: Life Membership Fees 40,000

Particulars
₹
Particulars
₹

Subscriptions collected (including ₹ 1,60,000 for previous year)
9,60,000
Travelling expenses
36,000

Salaries paid (Including ₹ 60,000 for previous year)
5,60,000
Purchase of Books
36,000

Salaries outstanding at the end of year
1,00,000
Rent paid
24,000

Tournament exp

Question 8

Question no 8 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 8 Chapter 1 V K Publication class 12
8. The following is the summary of cash transactions of the Gulmarg Club for the year ended 31st March, 2018:

Particulars
₹
Particulars
₹

Opening Balance
1,276
Rent and Rates
672

Entrance fees
1,020
Wages
980

Subscriptions
6,400
Lighting Charges
288

Donations
660
Lecturer’s Fees
1,740

Life Membership fees
1,000
Books
852

Interests on Fixed deposit
56
Office expenses
1,800

Profit on entertainment
168
Deposited on 6% Fixed Deposit

Question 9

Question no 9 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 9 Chapter 1 V K Publication class 12
9. The following particulars relate to the Haryana Literary Society for the year ended 31st March, 2018:
Subscriptions received Rs.1,100; Interest received on investments ₹ 380.Net Proceeds received from lectures ₹ 2,320; Rent paid for the use of Hall ₹ 210. Petty cash payment ₹ 100; Advertising expenses paid ₹ 210; Printing expenses paid ₹ 120.The society holds ten 4% Debentures of ₹ 1,000 each. As on 31st March. the society owed ₹ 80 for rent o

Question 10

Question no 10 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 10 Chapter 1 V K Publication class 12
10. From the following Receipts and Payments Account, prepare an Income and Expend Account as on March 31, 2018

Receipts
₹
Payments
₹

To Balance b/d
1,800
By Salaries
36,000

To Subscriptions
9,000
By Rent
36,000

To Sale of Investments
2,000
By Stationery
24,000

To Sale of old furniture (Book Value ₹ 400) 
300
By Defense bonds
20,000

To General Donations
100
By Furniture purchased
1,00,000

By Bicycle purchased
2,000

13,200

Question 11

Question no 11 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 11 Chapter 1 V K Publication class 12
11. From the following Receipts and Payments Account, prepare the Income and Expenditure Account on 31st March, 2018:

Receipts
₹
Payments
₹

To Balance b/d (1st April, 2017)
 
By Salaries 
3,500

Cash
550
By Rent and Rates 
1,200

Bank
2,800
By Printing and Stationery 
100

To Subscriptions including 200 for 2016-17 and 150 for 2018-19) 
5,900
By Postage and Stamps 
220

To Government Grants 
850
By Steel Almirahs 
350

To Sale of furni

Question 12

Question no 12 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 12 Chapter 1 V K Publication class 12
12. From the following Receipts and Payments Account of the Support Old Age Society for the year ended 31st March, 2018, prepare 'Income and Expenditure Account:

Receipts
₹
Payments
₹

To Balance b/d
2,010
By Salaries to Nurses
656

To Subscriptions
4,115
By Board laundry and domestic help
380

To Rent received from Society Hall
217
By Rent, rates and taxes
200

To Municipal grant
1,000
By Cost of beds purchased
2,000

To Donation for Bu

Question 13

Question no 13 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 13 Chapter 1 V K Publication class 12
13. From the following particulars extracted from the records of Lovely Ladies Club, prepare an Income and Expenditure Account for the year ended 31st March, 2018:

Particulars
₹

Salaries paid
5,000

Lighting and Heating
500

Printing and Stationery (including 50 paid for last year)
350

Subscription received
4,000

(including ₹ 200 received in advance, and ₹ 500 for last year)

Net Proceeds of Refreshment Room
4,500

Visitor's Fees

Question 14

Question no 14 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 14 Chapter 1 V K Publication class 12
14. From the following balances, prepare a Balance Sheet of a not-for-profit organisation as at 31st March, 2018:

Particulars
₹
Particulars
₹

Cash and Bank balance
30,000
Subscription received in advance
9,000

Furniture
60,000
Outstanding Subscriptions
24,000

Investments
90,000
Outstanding Expenses
27,000

Equipment’s
1,20,000

The Solution of Question No 14 Chapter No 01 - V K Publications Class 12
Balance Sheet (as at 31st Marc

Question 15

Question no 15 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 15 Chapter 1 V K Publication class 12
15. From the following information, prepare Opening and Closing Balance Sheets:

Particulars
₹ 2018
₹ 2019
Particulars
₹ 2018
₹ 2019

Building (subject to 10% depreciation)
60,000
-
Subscription received in advance
-
2,000

Furniture (subject to 10% depreciation)
-
20,000
Outstanding Subscriptions
6,000
3,000

Stock of Sports Materials
5,000
2,000
Outstanding Expenses
2,00,000
-

Prepaid Insurance
3,000
6,000
 
-
4,000

Outstanding Subscr

Question 16

Question no 16 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 16 Chapter 1 V K Publication class 12
16. From the following information, calculate the amount of subscriptions for the year:Subscription year ended 31st March, 2018 and show the same in Income and Expenditure Account and Opening and Closing Balance Sheets of a club:
Receipts and Payments Accountfor the year ending 31st March, 2018

Receipts
₹ 
Particulars
₹

To Subscription
78,000

Additional Information: (i) Subscriptions outstanding on 31st March, 20

Question 17

Question no 17 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 17 Chapter 1 V K Publication class 12
17. In 2016-17, the subscriptions received were ₹ 21,000. These subscriptions include ₹ 500 for 2015-16 and ₹ 1,000 for 2017-18. On 31st March, 2017 subscriptions due but not received were ₹ 1000. The outstanding amount in 2015-16 was ₹ 500. What amount of subscription should be credited to Income and Expenditure Account for the year ending on 31st March 2017?
The Solution of Question No 17 Chapter No 01 - V K Publications Class 12
Statement sho

Question 18

Question no 18 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 18 Chapter 1 V K Publication class 12
18. From the following extracts of Receipts and Payments Account and additional information, you are required to calculate the income from subscription for the year ending 31st March, 2018 and show them in Income and Expenditure Account and the Balance Sheet of Royal Club:
Receipts and Payments Accountfor the year ending 31st March, 2018

Receipts
₹ 
Payments
₹

To Subscription:

2016-2017
10,000

2017-2018
60,000

2018-2019

Question 19

Question no 19 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

Question no 19 Chapter 1 V K Publication class 12
19. Prepare a statement showing all relevant items of subscriptions from the followinginformation:
An Extract of Receipts and Payments Accountfor the year ending 31st March, 2018

Receipts
 
₹
Payments
₹

To Subscription:

2016-2017
500

2017-2018
2,000

2018-2019
400
2,900

Information: The club has 50 members, each paying annual subscription of ₹ 50.
The Solution of Question No 19 Chapter No 01 - V K Publicatio

Question 20

Question no 20 Chapter 1 V K Publication class 12

Sarbjit Singh · Accepted Answer

20. From the following items, calculate the amount of subscriptions to be credited to the Income and Expenditure Account for the year ending on 31st March, 2018. You are also required to show the items in the Balance Sheets as at 31st March, 2017 and 2018:

Particulars
₹

Subscriptions received during 2017-18
71,700

Subscriptions outstanding on 31st March, 2017
6,000

Subscriptions received in Advance on 31st March, 2017
4,500

Subscriptions received in Advance on 31st March, 2018
25,700

Liabilities		Amount	Assets		Amount
Prize Fund	2,70,000		Prize Fund Investment	2,70,000
Add. Income from Investment	27,000		Less: Investment sold at par	60,000	2,10,000
	2,97,000
Less: Prizes awaited	60,000	2,37,000

Particulars	₹
Prize Fund	2,70,000
Prize Fund Investments	2,70,000
Income from Prize Fund Investments	27,000
Prizes awarded from sale of investments at par	60,000

V K Accountancy Class 12-2021-22 - NPO and Partnership-Solution Solutions Chapter No 01 - Accounting for Not for Profit Organisation

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Topics & Questions Solved:

Question No 1 Chapter No 01 - V K Publications Class 12

The Solution of Question No 1 Chapter No 01 - V K Publications Class 12

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

Usha Publication - Elements of Book-Keeping PSEB (Class 11) - Solution

Question No 2 Chapter No 01 - V K Publications Class 12

Question No 3 Chapter No 01 - V K Publications Class 12

Question No 4 Chapter No 01 - V K Publications Class 12

Question no 5 Chapter 1 V K Publication class 12

Question no 6 Chapter 1 V K Publication class 12

Question no 7 Chapter 1 V K Publication class 12

Question no 8 Chapter 1 V K Publication class 12

Question no 9 Chapter 1 V K Publication class 12

Question no 10 Chapter 1 V K Publication class 12

Question no 11 Chapter 1 V K Publication class 12

Question no 12 Chapter 1 V K Publication class 12

Question no 13 Chapter 1 V K Publication class 12

Question no 14 Chapter 1 V K Publication class 12

Question no 15 Chapter 1 V K Publication class 12

Question no 16 Chapter 1 V K Publication class 12

Question no 17 Chapter 1 V K Publication class 12

Question no 18 Chapter 1 V K Publication class 12

Question no 19 Chapter 1 V K Publication class 12

Question no 20 Chapter 1 V K Publication class 12

Question 21 Chapter 1 of Class 12 Part - 1 VK Publication

Question 22 Chapter 1 of Class 12 Part - 1 VK Publication

Question 23 Chapter 1 of Class 12 Part - 1 VK Publication

Question 24 Chapter 1 of Class 12 Part - 1 VK Publication

Question 25 Chapter 1 of Class 12 Part - 1 VK Publication

Question 26 Chapter 1 of Class 12 Part - 1 VK Publication

Question 27 Chapter 1 of Class 12 Part - 1 VK Publication

Question 28 Chapter 1 of Class 12 Part - 1 VK Publication

Question 29 Chapter 1 of Class 12 Part - 1 VK Publication

Question 30 Chapter 1 of Class 12 Part - 1 VK Publication

Question 31 Chapter 1 of Class 12 Part - 1 VK Publication

Question 32 Chapter 1 of Class 12 Part - 1 VK Publication

Question 33 Chapter 1 of Class 12 Part - 1 VK Publication

Question 34 Chapter 1 of Class 12 Part - 1 VK Publication

Question 35 Chapter 1 of Class 12 Part - 1 VK Publication

Question 36 Chapter 1 of Class 12 Part - 1 VK Publication

Question 37 Chapter 1 of Class 12 Part - 1 VK Publication

Question 38 Chapter 1 of Class 12 Part - 1 VK Publication

Question 39 Chapter 1 of Class 12 Part - 1 VK Publication

Question 40 Chapter 1 of Class 12 Part - 1 VK Publication

Question 41 Chapter 1 of Class 12 Part - 1 VK Publication

Question 42 Chapter 1 of Class 12 Part - 1 VK Publication

Question 43 Chapter 1 of Class 12 Part - 1 VK Publication

Question 44 Chapter 1 of Class 12 Part - 1 VK Publication

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