[ISC] Q 41 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Solution of Question number 41 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

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

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

Receipts	₹	Payments	₹
To Balance b/d (Cash) To Balance b/d (Bank) To Donations To Subscriptions To Entrance Fees To Interest on Investments To Interest Received from Bank To Sale of Old Newspapers To Sale of Drama Ticketsr	4,000 10,000 5,000 12,000 1,000 100 400 150 1050	By Salary By Repair Expenses By Purchase of Furniture By Miscellaneous Expenses By Purchase of Investments By Insurance Premium By Billiards Table By Paper, Ink, etc. By Drama Expenses By Balance c/d (Cash) By Balance c/d (Bank)	2,000 500 6,000 500 6,000 200 8,000 150 500 2,650 7,200
	33,700		33,700

Additional Information:

(i) Subscriptions in arrear for 2020 – 21 ₹ 900 and subscription in advance for 2021 -22 ₹ 350.

(ii) Insurance Premium Outstanding ₹ 40.

(iii) Miscellaneous Expenses prepaid ₹ 90.

(iv) 50% of donation is to be capitalised.

(v) 8% interest has accrued on investment for five months.

(vi) Billiards Table costing ₹ 30,00 was purchased during last year and ₹ 22,000 were paid for it.

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