[ISC] Q 40 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

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Are you looking for the solution of Question number 40 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

The following particulars relate to Akshay Club for the year ended 31st March, 2022:

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

ReceiptsPayments
To Balance b/d:
Cash
Bank
To Legacy
To Subscription
(including ₹ 4,000 for 2020 – 21)
To Sale of Old Furniture
To Sale of Old Newspapers
To Advertisement in the Year Book
2,000
4,000

10,000
94,000
7,500
500
2,000
By Salaries
By Honorarium
By General Expenses
By Charities
By Printing and Stationery
By Postage and Courier
By Rent and Taxes
By Sports Materials
By Balance c/d:
Bank
36,000
4,000
24,000
6,000
12,000
5,000
7,000
25,000


1,000
1,20,0001,20,000

Additional Information:

31st March,
2021 (₹)
31st March
2022 (₹)
(i) Subscription Due5,0006,000
(ii) Subscription Received in Advance4,0007,000
(iii) Furniture20,00010,800

(iv) Depreciation was 10% p.a. on the Furniture left after selling a part of it.

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

Solution:-

Working Notes:-

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Anurag Pathak

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