Professional Documents
Culture Documents
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ACCOUNTS ACCOUNTS
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******************ACCOUNTS QUESTION PAPER*****************
2. Shri HJ maintains his books on the single entry system and
furnishes the following details to you for the year 1998.
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ACCOUNTS ACCOUNTS
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******************ACCOUNTS QUESTION PAPER*****************
1. From the following information supplied to you prepare income
and expenditure account for the year ended on 31st December 1980
and Balance sheet as on that date for Subhash Sports Club,
Aurangabad.
Balance sheet as on 1st January 1980
Liabilities Rs. Assets Rs.
Subscription 1,000 Land & Building 50,000
received in advance 2,800 Furniture] 10,000
Out standing 10,000 Cash in hand 20,000
expenses 67,200 Outstanding Debtors 700
8% Loan for subscription 300
Capital fund Locker Rent
81,000 81,000
Receipt and Payments Accounts for the year ended 31st December
1980
Receipts Rs. Payments Rs.
To Balance 20,000 By expenses:
(01.01.0980) 1979 2,400
Subscription : 1980 6,400
1979 400 4,000 8,000
1980 4,700 By Furniture (01 -07 10,000
4,000 1,300 1980) 400
1981 300 1,000 By Loan Repayment 4,200
Entrance fees 7,000 (01.0701980) 6,000
Locker Rent 1,000 By interest on Loan 35,000
Income from 35,000 account
refreshment
Donations By refreshment
Expenses
By balance
( 31.12.1980)
Following adjustments are to be taken into consideration:
1. Outstanding subscriptions for 1980 Rs. 1,500/-
2. Outstanding Expenses for 1980 Rs. 500
3. Outstanding Salary Rs. 1,000/-
4. Depreciate Land and Building at 2% and Furniture @ 10% per
annum.
5. Entire amount of donations and one – half amount of
entrance fees are to be capitalized.
6. Locker Rent outstanding for 1980 is Rs. 200/-
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ACCOUNTS ACCOUNTS
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******************ACCOUNTS QUESTION PAPER*****************
2. From the following Receipt and Payment A/c of Tarun Mitra
Mandal, Jalgaon for the year ending 31-12-1981 and the
adjustments given below, prepare Income And Expenditure A/c for
the year ending 31st December 1981 and the Balance Sheet on 31-12-
1981,
Receipts Amount Payments Amount
To Balance 01-01- 23,000 By Taxes 1500
1981 5,000 By rent 12000
To Donations 3,500 By stationery 2500
To Entrance Fees 20,000 By wages 3000
To subscriptions 1,000 By billiard table 1950
To locker rent 1,500 By electrical fittings 1150
To Income from By Investments 12000
Annual program 15,000 By repairs 800
To Sale of furniture By annual 1100
(Cost of Rs. 20,000) programmer expenses
By Match expenses 3000
By Bank Balance 25000
By cash 5000
69000 69000
1. Locker rent includes Rs. 200/- for the year 1980 and Rs. 50 is
still outstanding for current year.
2. Subscriptions include Rs. 1000/- for the year 1980 and 800/-
are outstanding for this year while Rs. 200/- are received in
advance in the year 1982.
3. Rent Rs. 800/- for the month of December 1981 is still
outstanding.
4. ½ of the donations and ½ of entrance fees are to capitalized.
5. Opening stock of stationery stood at Rs. 500/- on 1.1.1981,
while at the end of the year the stock of stationery stood at
Rs. 1,000/-
6. The assets on 1.1.1981 were: Furniture Rs. 25,000/- Sports
materials Rs. 5000/- while the capital fund on 01 – 01 – 1981
stood at Rs. 54700/-
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ACCOUNTS ACCOUNTS