[ISC] Q 31 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

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Solution of Question number 31 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

Following is the Receipts & Payments Account of You Bee Forty Club for the year ended 31st March, 2023:

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

ReceiptsPayments
To Balance b/d
To Subscriptions:
2021-22
2022-23
To Donations
To Entrance Fees
15,000
6,000
35,000
5,000
8,000
By Salaries and Wages
By Office Expenses
By Sports Equipment
By Telephone Charges
By Electricity Charges
By Travelling Expenses
By Balance c/d
16,000
3,500
34,000
2,400
3,200
6,500
3,400
69,00069,000

(a) Outstanding Subscriptions for the year ended 31st March, 2023 were ₹ 5,500.

(b) Outstanding Salaries and Wages ₹ 4,000.

(c) Depreciate Sports Equipment by 25%.

Prepare from the above particulars the Income & Expenditure Account of the Club.

Solution:-

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