[ISC] Q 51 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

Solution of Question number 51 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

From the following Receipts & Payments Account of Young Ladies Club, prepare Income & Expenditure Account for the year ended 31st March, 2023 and the Balance sheet as at that date:

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

Receipts		₹	Payments	₹
To Balance b/d To Subscriptions 2021-22 2022-23 2023-24 To Profit on Sports Meet To Income from Investments	4,500 2,11,000 7,500	1,02,500 2,23,000 1,55,000 1,00,000	By Salaries By Stationery By Rent By Telphone Expenses By Investments By Sundry Expenses By Balance c/d	2,08,000 40,000 60,000 10,000 1,25,000 92,500 45,000
		5,80,500		5,80,500

Additional Information:-

(i) There are 450 members each paying an annual subscription of ₹ 500.

(ii) On 31st March, 2022:

(a) Outstanding subscription was ₹ 5,000.

(b) Outstanding Sundry Expenses were ₹ 7,000.

(c) Stock of Stationery was ₹ 5,000.

(d) Building was valued at ₹ 10,00,000 and it was subject to depreciation @ 5% p.a.

(e) Investments were of ₹ 20,00,000.

(iii) On 31st March, 2023, income accrued on the investments purchased during the year was ₹ 3,750.

(iv) Stock of stationery was valued at ₹ 9,000 and outstanding telephone expenses were ₹ 3,000 on 31st March, 2023.

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