[ISC] Q 43 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Solution of Question number 43 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

Sweet Valley Sports Club gives you the following Receipts & Payments Account for the year ended 31st March, 2022:

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

Receipts	₹	Payments	₹
To Balance b/d: Cash Bank To Subscriptions To Tournament Receipts To Life Membership Fees To Entrance Fees To Donations for Pavilion	3,000 30,000 65,000 20,000 30,000 6,000 25,000	By Rent By Salaries to Coaches By Tournament Expenses By Office Expenses By Sports Equipment Purchased By Mowing Machine Purchased By Balance c/d: Cash Bank	6,000 30,000 10,000 20,000 15,000 12,000 16,000 70,000
	1,79,000		1,79,000

Subscriptions include ₹ 5,000 for the year ended 31st March, 2021 and ₹ 4,000 were still due in respect of subscriptions for the current year.

Sports Equipment in hand on 31st March, 2021 were ₹ 10,000. The value of the equipments in hand on 31st March, 2022 was ₹ 21,000.

The Mowing Machine was purchased on 1st October, 2021 and is to be depreciated @ 10% p.a.

Income from Tournament should be credited to a newly opened Tournament Fund and the Entrance Fees are to be capitalised.

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

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