[ISC] Q 48 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Are you looking for the solution of Question number 48 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

How are the following items dealt while preparing the Income & Expenditure Account of Oldman Sports Club for the year ending on 31st March, 2021 and a Balance Sheet as on that date:

	As at 1st April, 2020 (₹)	As at 31st March, 2021 (₹)
Subscription Due	38,000	28,000
Advance Subscription	11,200	20,800
Outstanding Salaries	60,000	36,000
Prepaid Salaries	20,000	12,000
Amount due to Suppliers of Sports Materials	60,000	36,000
Advance to Suppliers of Sports Materials	20,000	12,000
Stock of Sports Materials	60,000	28,000

During the year, payment made to suppliers of sports Materials was ₹ 2,16,000 and Cash Purchase of Sports Materials amounted to 10% of Credit Purchase. Subscription received ₹ 5,95,600, Salaries paid ₹ 2,16,000.

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