[ISC] Q 42 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

Solution of Question number 42 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

From the following Receipts & Payments Account and other information given, prepare the Income & Expenditure Account and the Balance Sheet of the Modern Social Club:

Receipts & Payments Account for the year ended 31st March, 2023

Receipts	₹	Payments	₹
To Balance b/d To Subscriptions To Profit on Dance Show To Collections (Matches) To Competition Fees To Sales of Refreshments	7,000 24,000 14,800 2,500 1,800 8,200	By Prizes By Games Equipment By Rent By Rates By Printing By Stationery By Postages By Secretary’s Expenses By Repairs (Equipment) By Salary By Refreshments By Balance c/d	2,200 2,000 10,500 3,000 1,600 2,200 1,900 1,400 2,700 12,000 5,100 13,700
	58,300		58,300

The following matters should be taken into account:

(i) Capital Fund as at 1st April, 2022 ₹ 42,000.

(ii) Fixed Assets owned by the Club as at 1st April, 2022 – Furniture and Fittings ₹ 15,000; Games Equipment ₹ 20,000. These are to be depreciated @ 10% on opening values.

(iii) Amounts outstanding as at 31st March, 2023 – Printing ₹ 400; Refreshments ₹ 700.

(iv) On 31st March, 2023 – Rent paid in advance ₹ 1,500; Subscriptions due ₹ 1,200; Subscriptions in advance ₹ 500.

Solution:-

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