[ISC] Q 48 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

Solution of Question number 48 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

On 1st April, 2022, King’s Club commenced operation with the following assets:

	₹
Bank Balance	1,800
Cash in Hand	150
Club Premises	65,000
Record Players and Records	6,400
Other Equipment	8,600

The summary of its receipts and payments during the year ended 31st March, 2023

Receipts & Payments Account for the year ended 31st March, 2023

Receipts	₹	Payments		₹
To Balance b/d: Bank Cash To Subscriptions To Receipts from Sponsored Walk To Collections at Functions To Competition Fees To Grant from Local Authority	1,950 16,850 2,600 2,800 1,860 9,500	By Rates By Printing & Stationery By Postages By Electricity By Purchase of Television Set By Secretary’s Expenses By Insurance Premium By Competition Prizes By Balance c/d: Bank Cash	12,400 100	600 2,160 570 1,240 12,800 1,650 240 3,800 12,500
	35,560			35,560

Additional information:

(i) On 31st March, 2023, ₹ 860 subscriptions were in arrears and ₹ 1,340 were paid in advance.

(ii) Provide the depreciation of 25% on all equipment.

(iii) Furniture worth ₹ 7,600 was purchased in March but the amount was not paid at the end of the year.

(iv) Three months’ rates ₹ 120 were paid in advance and ₹ 70 were due for electricity on 31st March.

(v) One-third of the insurance relates to the next year.

Prepare Income & Expenditure Account for the year ended 31st March, 2023 and the Balance Sheet as at that date.

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
50	Question – 50
51	Question – 51
52	Question – 52