Q1.
From the following Receipt and Payments A/c given below,
prepare Income and Expenditure A/c of Velocity Pune Club
for the year ended 31st March 2023.
Receipt and Payments A/c for the year ended 31st March 2023
Receipts ₹ Payments
Bal b/d (cash in hand) 3200 Salary
Subscriptions 22500 Rent
Entrance Fees 1250 Electricity
Donations 2500 Taxes
Hall rent 750 Printing & Stationery
Sale of Investments 3000 Sundry Expenses
Books Purchased
Govt. Bonds Purchased
FD with Bank (on 31/03/23)
Bal c/d
Cash in hand ₹400
Cash at Bank ₹1500
33200
Q2. From the following Receipt and Payment Account for the year ending March 31,
2023 of Negi's Club, prepare Income and Expenditure Account for the same
period:
Receipts ₹ Payments
Balance c/d Bank 25,000 Purchase of furniture (1.7.22)
Subscriptions Salaries
2022 1500 Telephone expenses
2023 10000 Electricity charges
2024 500 12,000 Postage and Stationery
Donation 2000 Purchase of books
Hall rent 300 Entertainment expenses
Interest on bank deposits 450 Purchase of 5% government
Entrance fees 1000 papers (1.7.22)
Miscellaneous expenses
Balance c/d:
Cash
Bank
40750
The following additional information is available:
(i) Salaries outstanding – Rs. 1,500;
(ii) Entertainment expenses outstanding – Rs. 500;
(iii) Bank interest receivable – Rs. 150;
(iv) Subscriptions accrued – Rs. 400;
(v) 50 per cent of entrance fees is to be capitalised;
(vi) Furniture is to be depreciated at 10 per cent per annum.
Q3. From the following Receipt and Payment Account and additional information
relating to Excellent Cricket Club, prepare Income and Expenditure Account
for the year ended March 31, 2015 and Balance Sheet as on date.
Receipt and Payment Account for the year ended 31
Receipts ₹
Balance b/d (Cash in Hand) 18000
Member’s subscriptions 2,50,000
Member’s admission fee 15000
Sale of old sports materials 2500
Hire of ground 28000
Subscription for tournament 60000
Life membership fee 20000
Donations 6,00,000
9,93,500
Assets at the beginning of the year were:
Play ground 150000
Cash in hand 18,000
Stock of sports materials 85,000
Printing and Stationery 11,000
Subscriptions receivable 28,000
Donations and Surplus on account of tournament are to be kept in Reserve for
permanent [Link] due on March 31, 2015 were Rs. 42,000. W
of sports materials and 30% of printing and stationery.
Q4. Following is the Receipt and Payment Account of an Entertainment Club for t
period 01/04/15 to 31/03/16
Receipt and Payment Account for the year ending March 31, 2016
Receipts Amount
(Rs.)
Balance b/d
Cash 27,500
Bank 60,000 87,500
Member’s subscriptions:
2014-2015 12,500
2015-2016 1,00,000
2016-2017 10,000 1,22,500
Sale of furniture
(book value: Rs. 8,000) 10,000
Sale of food stuffs 1,00,000
Sale of old periodicals 3,200
and newspapers
Hire of ground used 48,750
for marriage
Donation for sports fund 25,000
Locker Rent 17,050
4,14,000
Additional Information:
* The club had 225 members, each paying an annual subscription of Rs. 500.
* Subscription outstanding as on 31 March 2016 Rs. 15,000.
* Telephone bill outstanding for the year 2015-2016 is Rs. 2,000.
* Locker Rent Rs. 3,050 outstanding for the year 2014-15 and Rs. 1,500 for
2015-16.
* Salary outstanding for the year 2015-16 Rs. 4,000.
* Opening Stock of Printing and stationery Rs. 2,000 and closing stock of printi
and stationery is Rs. 3,000 for the year 2015-16.
* On 1st April 2015 other balances were as under:
Furniture 1,00,000
Building 6,50,000
Sports fund 15,000
* Depreciation Furniture and Building @ 12.5% and 5% respectively assuming
it is on reducing balance for the year ending March 31.2016
Prepare Income and Expenditure account and Balance Sheet as on
that date.
Q5. Prepare Income and Expenditure Account and Balance Sheet for the year ende
March 31, 2015 from the following information.
Receipt and Payment Account for the year ending March 31, 2015
Receipts Amount
(Rs.)
Balance b/d 41,000
Subscriptions:
2013-14 7,200
2014-15 3,37,600
2015-16 12,000 3,56,800
Entrance fees 16,000
Locker rent 58,000
Revenue from refreshment 48,000
Income from investments 56,000
5,75,800
The following additional information is provided to you:
1. There are 1800 members each paying an annual subscription of
Rs. 200, Rs. 8,000 were in arrears for 2013-14 as on April 1, 2014.
2. On March 31, 2015 the rates were prepaid to June 2015; the charge
paid every year being Rs. 24,000.
3. There was an outstanding telephone bill for Rs. 1,400 on March 31, 2015.
4. Outstanding sundry expenses as on March 31, 2014 totaled Rs. 2,800.
5. Stock of stationery as on March 31, 2014 was Rs. 2000; on March 31, 2015, it
was Rs. 3,600.
6. On March 31, 2014 Building stood at Rs. 4,00,000 and it was subject to
depreciation @ 2.5% p. a.
7. Investment on March 31, 2014 stood at Rs. 8,00,000.
8. On March 31, 2015, income accrued on investments purchased during
the year amounted to Rs. 1,500.
Q6. Prepare Income and Expenditure Account of Lion's Club for the year
ending March 31, 2015 and Balance Sheet as on that date from the following
information:
Receipt and Payment Account for the year ending March 31, 2015
Receipts Amount
(Rs.)
Balance b/d 24,000
Subscriptions
2013-14 23,250
2014-15 3,36,000
2015-16 13,000 3,72,250
Sale of sports materials 26,000
Entrance fees 40,000
General donation 20,250
Donation for prize fund 14,000
Interest on prize fund
Investments 1,500
Miscellaneous receipts 1,700
4,99,700
Additional Information:
Details Apr. 01, 2014
Sports materials 20,000
Furniture 2,00,000
5% Prize fund investments 60,000
Creditors for sports materials 7,000
Subscription in arrears 23,750
Prize fund 60,000
Rent paid in advance ----
Outstanding rent 3,750
Outstanding miscellaneous 11,400
expenses
Miscellaneous expenses paid in 3,750
advance
* Book value of sports materials sold was Rs. 20000
* Depreciation on furniture is to be provided @ 10%.
* Half of the entrance fee is to be capitalised.
There are 1440 members, each paying an annual
* subscription @ Rs. 250.
Subscription received in advance on 1.4.2014 were Rs.
* 7000.
Q7. Following is the Receipts and Payments Account of “Satara Sports Club” Satara Prep
Receipt and Payment Account for the year ending March 31, 2019
Receipts Amt ₹ Amt ₹
To Balance b/d
Cash in hand 4,500
Cash at Bank 12,000 16,500
To Subscription
2017 - 18 4,000
2018 - 19 44,500
2019 - 20 3,500 52,000
To Entrance fees 8,000
To Donation for Building
70,000
fund
To Interest 600
To Sale of furniture 4,500
(Book Value ₹ 8000)
151,600
Adjustments:
1) Outstanding Subscription for Current Year is ₹ 4,500
2) Outstanding Rent for Current Year amounted to ₹ 1,000
3) Entrance Fees are to be treated as Revenue Income
4) Stock of Sports Material as on 01.04.2018 ₹ 6,000 and on 31.03.2019 ₹ 14,000
Q8. From the following particulars relating to “Radha-Krishna Charitable Hospital” Pune. Pr
and Expenditure Account for the year ending 31.03.2020 and Balance Sheet as on that date.
Receipts and payments Account for the year ending 31.03.2020.
Receipts Amount ₹ Payments
To Balance b/d By Medicines Purchased
Cash 8,230 By General Expenses
To Subscriptions 52,000 By Salaries
To Donations (General) 17,500 By Stationery
To Interest in Investments 10,000 By Expenses on Charity Show
To Proceeds from Charity
8,530 By Surgery and Dispensary Exp
Show
By Equipments
By Balance c/d
Cash in Hand
Cash at Bank
96,260
Additional Information :
Particulars 01.04.2019 ₹ 31.03.2020 ₹
1. Subscription Due 310 350
2. Subscription Received in
600 150
Advance
3. Stock of Medicine 8,000 11,000
4. Estimated Value of
15,000 ?
Equipment
5. Building 40,000 ?
6. Capital Fund 170,940 ?
7. 10 % Investment 100,000 ?
Provide Depreciation on Equipments ₹ 1,900 and on
Building ₹ 1,500
₹
1500
800
3500
1700
380
920
7500
10000
500
1900
33200
₹
5000
2000
300
600
150
2500
900
8000
600
300
20400
40750
Account and additional information
Income and Expenditure Account
lance Sheet as on date.
ment Account for the year ended 31/03/23
Payments ₹
Balance b/d (bank overdraft) 16000
Upkeep of field and pavilion 1,15,000
Tournament expenses 40000
Rates and Insurance 10000
Telephone 3500
Postage and Courier charges 4000
Printing and Stationery 26000
Miscellaneous expenses 4400
Secretary’s honorarium 30,000
Grass seeds 2,600
Investments 6,00,000
Purchase of sports materials 68,000
Balance c/d 74,000
9,93,500
ament are to be kept in Reserve for a
March 31, 2015 were Rs. 42,000. Write-off 50%
d stationery.
ount of an Entertainment Club for the
ending March 31, 2016
Payments Amount
(Rs.)
Salaries 24,000
Electric bill 21,000
Food stuff for restaurant 60,000
Telephone bill 35,000
Subscription for periodicals 14,500
Printing and stationery 13,000
Sports expenses 50,000
Secretary’s honorarium 30,000
8% Investments (31.3.2007) 1,00,000
Balance c/d:
Cash 21,500
Bank 45,000 66,500
4,14,000
n annual subscription of Rs. 500.
016 Rs. 15,000.
15-2016 is Rs. 2,000.
year 2014-15 and Rs. 1,500 for
Rs. 2,000 and closing stock of printing
.5% and 5% respectively assuming that
g March 31.2016
and Balance Sheet as on
and Balance Sheet for the year ended
ending March 31, 2015
Payments Amount
(Rs.)
Salaries and Wages:
2013-14 4,800
2014-15 83,200 88,000
Sundry expenses 37,000
Freehold land 60,000
Stationery 16,000
Rates 24,000
Refreshment expenses 37,500
Telephone charges 4,000
Investments 2,50,000
Audit fee 6,000
Balance c/d 53,300
5,75,800
nual subscription of
as on April 1, 2014.
o June 2015; the charge
Rs. 1,400 on March 31, 2015.
1, 2014 totaled Rs. 2,800.
s Rs. 2000; on March 31, 2015, it
0,000 and it was subject to
stments purchased during
of Lion's Club for the year
as on that date from the following
ending March 31, 2015
Payments Amount
(Rs.)
Rent and Rates 48,750
Furniture purchased 40,000
Creditors for sports materials 61,000
Purchases for sports materials 10,000
Cost of prizes awarded 20,750
Match expenses 35,150
Miscellaneous expenses 1,50,000
Balance c/d 1,34,050
4,99,700
Mar. 31, 2015
25,000
?
?
14,750
?
?
3,750
20,100
4,250
nt of “Satara Sports Club” Satara Prepare Income and Expenditure Account for the year ending 31.03.2019.
ending March 31, 2019
Payments Amt ₹ Amt ₹
By Salaries 5,000
By Rent (Including ₹ 2,000 for
5,000
2017 - 18)
By Electricity Charges 1,450
By Fixed Deposit 60,000
By Printing and Stationery 750
By General Expenses (Including ₹
5,500
500 paid for next year)
By Sports Material Purchased 40,000
By Balance c/d
Cash in Hand 8,900
Cash at Bank 25,000 33,900
151,600
ed to ₹ 1,000
6,000 and on 31.03.2019 ₹ 14,000
na Charitable Hospital” Pune. Prepare Income
Balance Sheet as on that date.
he year ending 31.03.2020.
Amount ₹
41,000
1,050
23,500
2,000
550
4,200
10,000
960
13,000
96,260
re Account for the year ending 31.03.2019.
