[ISC] Q 38 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Are you looking for the solution of Question number 38 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

From the following information and the Receipts and Payments Account of Prince Club, prepare Income & Expenditure Account for the year ended 31st March, 2021 and the Balance Sheet as at that date:

Receipts and Payments Account for the year ended 31st March, 2021

Receipts	₹	Payments	₹
To Balance b/d To Entrance Fees To Subscriptions To Donations To Life Membership Fees To Interest on Deposits To Proceeds of Tournament	3,190 550 18,000 1,650 2,500 240 2,320	By Rent By Wages By Lighting Charges By Books Purchased By Office Expenses By 8% Fixed Deposits (on 1st October, 2020) By Tournament Expenses By Balance c/d	1,680 2,450 720 2,480 4,500 12,000 2,020 2,600
	28,450		28,450

Other Information:

On 31st March, 2020, the Club possessed books worth ₹ 20,000 and Furniture worth ₹ 8,500. Provide depreciation on these assets @ 10% including purchases during the year.

Subscriptions in arrears in the beginning of the year amounted to ₹ 350 and at the end of the year ₹ 550 were outstanding.
The Club paid three months’ rent in advance both in the beginning and at the end of the year.

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