[ISC] Q 29 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

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Are you looking for the solution of Question number 29 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

Following is the Receipts & Payments Account of Young India Sports Club for the year ended 31st March, 2022:

Receipts and Payments Account for the year ended 31st March, 2022

ReceiptsPayments
To Balance b/d
To Donations for Building
To Life Membership Fees
To Receipts from Matches
To Subscriptions
To Lockers Rent
To Interest on Investments
To Sale of Furniture (Book Value ₹ 800)
To Entrance Fees
10,000
50,000
4,000
8,000
5,200
400
240
1,000
3,000
By Building
By Match Expenses
By Furniture
By 20% Investments
(Purchased on 1st July, 2021)
By Salaries:
2020 – 21
2021 – 22
By Insurance
By Sundry Expenses
By Balance c/d (Bank)
2,000
5,000
54,000
450
2,550
16,000


7,000
350
970
520
81,84081,840

Addtional Information:

(i) Subscriptions outstanding on 31st March, 2021 were ₹ 200 and on 31st March, 2022 were ₹ 300.

(ii) Outstanding Salaries for the year ended 31st March, 2022 were ₹ 800 and Outstanding bills for sundry expenses were ₹ 600.

(iii) Donations for Building includes ₹ 10,000 for general donations.

Prepare Income & Expenditure Account of the Club for the year ended 31st March, 2022.

Solution:-

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