[ISC] Q 28 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

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Solution of Question number 28 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

How will be the following dealt while preparing the Income & Expenditure Account of North Sports Club for the year ending on 31st March, 2023 and a Balance Sheet as on that date?

Particulars1st April,
2022 (₹)
31st March,
2023 (₹)
Outstanding Subscription
Advance Subscription
Outstanding Salaries
Prepaid Salaries
Amount due to Supplier of Sports Materials
Advance to Suppliers of Sports Materials
Stock of Sports Materials
19,000
5,600
30,000
10,000
30,000
10,000
30,000
14,000
10,400
18,000
6,000
18,000
6,000
14,000

During the year, payment made to the suppliers of Sports Materials was ₹ 1,08,000 and Cash Purchases amounted to 20% of Credit Purchases. Subscription received ₹ 2,97,800; Salaries paid ₹ 1,08,000.

Solution:-

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