[ISC] Q 42 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Solution of Question number 42 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

From the following Receipts and Payments Account of Kolkata Art Club and additional information, prepare Income & Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as at that date:

Receipts	₹	Payments	₹
To Balance b/d To Subscriptions: 2019 – 20 2020 – 21 2021 -22 To Donations To Proceeds of Drama Tickets To Sale of Newspapers (Old)	10,250 400 20,500 600 5,400 9,500 450	By Salaries By Expenses By Drama Expenses By Newspapers By Municipal Taxes By Charity By Investments By Electricity Charges By Balance c/d	6,000 750 4,500 1,500 400 3,500 20,000 1,450 9,000
	47,100		47,100

Additional Information:

(i) There are 500 members, each paying an annual subscription of ₹ 50 and ₹ 500 are still in arrears for the year ended 31st March, 2020.

(ii) Municipal Taxes amounted to ₹ 400 per year have been paid up to 30th June, 2021 and ₹ 500 are outstanding of salaries.

(iii) Building stands in the books at ₹ 50,000.

(iv) 6% interest has accrued on investments for five months.

(v) Donations are to be capitalised.

Solution:-

Working Notes:-

Below is the list of all the Practical problems

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Solutions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37
38	Question – 38
39	Question – 39
40	Question – 40

S.N	Solutions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49