[ISC] Q 35 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

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Are you looking for the solution of Question number 35 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

Following is the Receipts & Payments Account of the Gymkhana 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 Entrance Fees
To Subscriptions
2020 – 21
2021 – 22
2022 – 23
To Locker Rent
To Special Subscriptions for Tournament
(To be held in 2022 – 23)
1,500
2,750

1,000
84,500
1,50
2,500
17,250
By Rent
By Stationery, Postage, etc.
By Wages
By Billiards Table
By Repairs and Renewals
By Interest
By Balance c/d
26,000
15,340
26,650
19,500
4,030
7,500
11,980
1,11,0001,11,000

Loker Rent ₹ 300 is for 2020 – 21 and ₹ 450 is still owing. Rent ₹ 6,500 pertained to 2020 – 21 and ₹ 6,500 is still due. Stationery expenses ₹ 1,560 relate to 2020 – 21 and still owing are ₹ 1,822. Subscriptions unpaid for 2021 – 22 are ₹ 2,340.

Prepare Income & Expenditure Account of the Club for the year ended 31st March, 2022 and the Balance Sheet as at that date.

Solution:-

Working Notes:-

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