Meaning of Not-for-Profit Organisations: –

Not-for-profit organisations are that organisations that did not do their work to earn profit rather than their main objective are to do work to achieve a specific goal for society’s welfare or its members. These are also known as non-profit organisations.

The type of organisation run its operation mainly on the donations, entrance fee, subscription fee or membership fee. 

The type of organisation run its operation mainly on the donations, entrance fee, subscription fee or membership fee. 

Examples: –

  • Charitable Hospital
  • Charitable School, College or Educational Institutions
  • Particulars Club of any Society, Colony or city
  • Gurudwaras, Temple, Church and Masjids

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Not-for-Profit Organisations – Meaning and Overview

Chapter No. 1 – Accounting Not for Profit Organisations – USHA Publication Class +2 – Solution

Question wise solution of the all Questions of Chapter No. 1 – Accounting Not for Profit Organisations – USHA Publication Class +2 – Solutions are shown below: –

Q 1 CH 1 Usha 2 Book 2020 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 2 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 3 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 4 CH 1 Usha 2 Book 2018 Solution min 1 - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 5 CH 1 Usha 2 Book 2018 Solution min 1 - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 6 CH 1 Usha 2 Book 2018 Solution min 1 - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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)  ...
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Q 7 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 8 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 9 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 10 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 11 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 12 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 25,000     31-03-15 90,000     31-03-16 10,000          Rs. (a) Subscription outstanding on 31.3.2014 2,500 (b) ...
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Q 13 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 14 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 15 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 16 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 17 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 18 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 19 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 20 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
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 ...
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Q 21 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 21 Chapter 1 of +2-Part-1 21. (Stationary Consumption)Calculate the amount to be posted to Income and Expenditure account as expenditure on stationery: (a) Advance paid for the stationary at the beginning and at the end if the year Rs.800 and Rs.850 respectively. (b) Stock of stationery at the beginning ...
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Q 22 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 22 Chapter 1 of +2-Part-1 22. (Treatment of Expenses/B/S Treatment) During the year 31-3-2015, the expenses actually paid were Rs.13,440. Find out the actual expenses chargeable to Income and Expenditure account for the year ended 31-3-2015 if prepaid expenses and outstanding expenses are as follows: Particulars  Rs. Prepaid expenses ...
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Q 23 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 23 Chapter 1 of +2-Part-1 23. (Treatment of Expenses) Calculate actual expenses chargeable to Income and Expenditure account for the year ended 31-3-15 of Punjab Cricket Club: Particulars  Rs. Actual expenses paid 2,07,900 Prepaid expenses on 1-4-14 11,340 Prepaid expenses on 31-3-15 7,560 The solution of Question 23 Chapter ...
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Q 24 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 24 Chapter 1 of +2-Part-1 24. (Treatment of Expenses) Find out the expenses to be charged to the Income and Expenditure account for the year ended 31-3-15 of Hockey Club Jalandhar : Particulars  Rs. Actual expenses paid 1,68,000 Expenses outstanding on 1-4-14 12,600 Expenses outstanding on 31-3-15 4,200 Prepaid ...
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Q 25 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 25 Chapter 1 of +2-Part-1 25. (Treatment of Interest received) Calculate the interest to be credited to Income and Expenditure account for the year 31-3-2015 : Particulars  Rs. Interest received 32,500 Interest Accrued 1-4-14 9,100 Interest Accrued 31-3-15 5,200 The solution of Question 25 Chapter 1 of +2 Part-1: ...
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Q 26 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 26 Chapter 1 of +2-Part-1 26. (Treatment of Interest received) Calculate the amount of interest to be credited to the Income and Expenditure account for the year ended 31-3-2015 : Particulars  01-04-14 31-03-15 Interest received in advance 2,000 1,500 Interest Accrued  4,000 5,000 Interest received during the year Rs.32,000 ...
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Q 27 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 27 Chapter 1 of +2-Part-1 27. (Treatment of Prize Fund) How the following information will appear in the Balance Sheet as on 31-3-2015: Particulars  Rs. Prize Fund 1-4-14 20,000 Prizes awarded 2014-15 13,000 Donations for prizes received 16,000 The solution of Question 27 Chapter 1 of +2 Part-1: -  ...
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Q 28 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 28 Chapter 1 of +2-Part-1 28. (Treatment of Election Fund) How the following information will appear in the Balance Sheet as on 31-3-2015: Particulars  Dr.  Cr.    Balance (Rs.) Balance (Rs.) Election Fund  - 20,000 Election Fund Investments 20,000 - Interest on Election Fund Investments - 2,000 Election Expenses ...
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Q 29 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 29 Chapter 1 of +2-Part-1 29. (Treatment of Sports Fund) How will you deal with sports fund items, while preparing final account of Delhi Citizens Club for the year 2014-15. Particulars  Dr.  Cr.    Balance (Rs.) Balance (Rs.) Sports Fund  - 90,000 10% Sports Fund Investments 70,000 - Interest ...
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Q 30 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 30 Chapter 1 of +2-Part-1 30. (Depreciation) Calculate the amount of depreciation to be charged to the Income and Expenditure Account for the year 2015. Particulars  As on 1.1.2015 As on 31.12.2015 Office Equipment - 90,000 Purchase of office equipment during the year Rs.22,000. Sale of office equipment during ...
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Q 31 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 31 Chapter 1 of +2-Part-1 31. (Depreciation/GST) From the following information calculate the amount of depreciation to be charged to Income and Expenditure Account for 31-3-2015. Particulars  01-04-14 31-03-15 Furniture 28,000 42,000 Furniture purchased on the last date of the year Rs.20,000 from another state. IGST applicable on this ...
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Q 32 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 32 Chapter 1 of +2-Part-1 32. The book value of the furniture on 1st Jan. 2015 was Rs.54,000. On 1st July 2015 one –fourth of the furniture was sold for Rs.9,000 and two tables were purchased for Rs. 8,000 on 1st October, 2015. Depreciation is charged @ 10% p.a ...
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Q 33 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 33 Chapter 1 of +2-Part-1 33. (Trading and Profit & Loss/Income & Expenditure Account) Ambala Charitable Hospital runs a Chemist Shop along with the hospital. You are required to prepare Trading and Profit & Loss Account for the shop and Income & Expenditure Account for the hospital for the ...
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Q 34 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 34 Chapter 1 of +2-Part-1 34. (Receipts and Payments Account) The following information relates to the affairs of the Sunshine Club for the year ending 31-3-2015: Particulars  Rs. Balance at the bank on 1-4-2014 375 Cash paid for catering supplies 12,000 Unpaid accounts for catering supplies 22,078 Cash takings ...
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Q 35 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 35 Chapter 1 of +2-Part-1 35. (Income & Expenditure Account/GST) The following is the Receipts and Payments Account of White Star Football Association for the first year ending 31st December 2015: Receipts Amount Payments  Amount  To donations  50,000 By Pavilion offices (constructed) 40,000 To life member and entrance fees ...
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Q 36 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 36 Chapter 1 of +2-Part-1 36. (Income & Expenditure Account) Given below is the Receipts and Payments Account of Club for the year ending 31st December 2018 : Receipts Amount Payments  Amount To balance b/d 1,500 By salaries 600 To subscriptions:   By expenses 100 2017 50 By drama ...
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Q 37 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 37 Chapter 1 of +2-Part-1 37. (Income & Expenditure A/c/ Donation, Life membership fees, Entrance fees) The Receipts and Payments Account for the year ending 31st December 2017 of the Deep Sensation Club is given below: Receipts Amount Payments  Amount To donations  4,000 By Rent 9,000 To life membership ...
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Q 38 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 38 Chapter 1 of +2-Part-1 38. (I & EA/c/ Donation/ B/S/ Opening Fund Required/ GST) Following is the Receipts and Payments Account of Our Paradise Club for the year ending 31st March 2017: RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March 2017 Receipts  Rs. Payments Rs.  Cash ...
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Q 39 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 39 Chapter 1 of +2-Part-1 39. (I & EA/c/ B/S/ Opening Capital Fund) Following is the Receipts and Payments Account of Cultural Society for the year ending 31-3-2017: RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st march, 2017 Receipts  Rs. Payments Rs.  To balance b/d 10,000 By pay ...
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Q 40 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 40 Chapter 1 of +2-Part-1 40. (I & E A/c/ B/S/ Donation and Legacies/GST) Following Receipts and Payments Account is prepared from the cash book of Ajanta Charitable Trust, Agra for the year ending 31st March 2015: RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st march, 2015 Receipts  ...
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Q 41 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 41 Chapter 1 of +2-Part-1 41. (I & E A/c/ B/S/ Depreciation on Sports Equipment)The treasurer of a Social Club has prepared the following Receipts and Payments Account for the year ended 31st March 2015: RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March 2015 Receipts  Rs. Payments ...
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Q 42 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 42 Chapter 1 of +2-Part-1 42. (I & E A/c/ B/S/ Subscriptions) Following Receipts and Payments Account of Super Time Club for the year ending 31st December 2015: RECEIPTS AND PAYMENTS ACCOUNT Receipts    Rs. Payments Rs.  To cash in hand   10,000 By bank overdraft(1.1.2015) 14,000 To subscriptions ...
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Q 43 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 43 Chapter 1 of +2-Part-1 43. (I & E A/c/ B/S/ Furniture) Following Receipts and Payments Account of Hero Club for the year ending 31st March 2017: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To cash in hand 4,080 By salaries 18,640 To subscriptions   By rent 7,440 ...
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Q 44 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 44 Chapter 1 of +2-Part-1 44. (I & E A/c/ B/S) Following Receipts and Payments Account has been prepared from cash book of Ganges Club, Kanpur: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To balance on 1-4-17 25 By rents and rates 1,680 To member’s entrance fees 231 ...
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Q 45 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 45 Chapter 1 of +2-Part-1 45. (I & E A/c/ B/S/ Furniture) Following is the summary of cash transactions of Patalganga Sports Club for the year ending 31st December 2015: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To opening balance 1,600 By rent 4,800 To membership subscription 40,000 ...
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Q 46 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 46 Chapter 1 of +2-Part-1 46. (I & E A/c/ B/S) Given below is the receipts and payments account of Popular Club for the year ended 31st March 2015: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To entrance fees 1,000 By printing and stationary 900 To legacies 4,000 ...
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Q 47 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 47 Chapter 1 of +2-Part-1 47. (I & E A/c/ B/S) Following is the Receipts and Payments account of Manav Sewa Sangh for the year ending 31st December 2015: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To balance b/d 800 By salaries 300 To subscriptions:   By stationary ...
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Q 48 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 48 Chapter 1 of +2-Part-1 48. (I & E A/c/ B/S) From the trial balance and other information, given below for a school, prepare income and expenditure account for the year ended on 31-3-2015 and a balance sheet as on that date: Debit balance  Rs. Payments Rs.  Building 6,25,000 ...
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Q 49 CH 1 Usha 2 Book 2018 Solution min - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 49 Chapter 1 of +2-Part-1 49. (Trading a/c, I & E A/c/ B/S) The balance sheet of Royal Western Golf Club on 31st December 2014, disclosed the following position: Liabilities Rs. Assets Rs.  Accumulated fund 25,600 Clubhouse at cost 14,000 Subscription in advance 230 Furniture and equipment 7,500 Creditor ...
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Q 50 CH 1 Usha 2 Book 2018 Solution min 1 - Chapter No. 1 - Accounting Not for Profit Organisations - USHA Publication Class +2 - Solution
Question 50 Chapter 1 of +2-Part-1 50. (I & E A/c/ B/S) Youngmen’s Club prepared the following Receipts and Payments Account for the year ending 31st December 2016: RECEIPTS AND PAYMENTS ACCOUNT Receipts  Rs. Payments Rs.  To balance b/d 7,600 By sports equipment purchased on 1.10.2016 30,000 To subscriptions:   ...
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