[ISC] Q 46 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

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Solution of Question number 46 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

From the following particulars relating to the Ramakrishna Mission Charitable Hospital, prepare Income & Expenditure Account for the year ended 31st March, 2022 and the Balance Sheet as at that date:

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

ReceiptsPayments
To Balance b/d
To Subscriptions
To General Donations
To Interest on Investments @ 7% for full year
To Proceeds from Charity Show
7,130
47,996
14,500
7,000

10,450
By Medicines
By Doctor’s Honorarium
By Salaries
By Pretty Expenses
By Equipment
By Expenses on Charity Show
By Balance c/d
30,590
9,000
27,500
461
15,000
750

3,775
87,07687,076

Additional Information:

As at 1st April, 2021 (₹)As at 31st March, 2022 (₹)
Subscription due240280
Subscription Received in Advance64100
Stock of Medicines8,8109,740
Estimated value of Equipment21,20031,600
Building (Cost less depreciation)40,00038,000

Solution:-

Working Notes:-

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