[ISC] Q 36 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

Solution of Question number 36 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

From the following Receipts & Payments Account of City Club and additional information, prepare the 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 Rent received from the Use of Hall To Profit from Entertainment To Sale of Old Newspapers	500 2,000 400	700 2,900 1,400 800 200	By Salaries By General Expenses By Electricity Charges By Books By Newspapers By Balance c/d	2,800 600 400 1,000 800 400
		6,000		6,000

(i) The club has 50 members each paying an annual subscription of ₹ 50. Subscriptions Outstanding on 31st March 2022 were ₹ 600.

(ii) On 31st March 2023, Salaries Outstanding amounted to ₹ 200. Salaries paid in the year included ₹ 600 for the year 2023-24.

(iii) On 1st April, 2022, the Club owned Building valued at ₹ 20,000, Furniture ₹ 2,000 and Books ₹ 2,000.

(iv) Provide depreciation on Furniture at 10%.

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