[ISC] Q 47 Non Trading Organisation Solution TS Grewal (2022-23) Class 11

Are you looking for the solution of Question number 47 Non Trading Organisation Chapter TS Grewal class 11 ISC Board for 2022-23 Session?

The Accountant of Diana Club furnishes you the following Balance Sheet as at 1st April, 2021 and Receipts
& Payments Account for the year ended 31st March, 2022:

Balance Sheet as at 1st April, 2021

Liabilities	₹	Assets	₹
Capital Fund Expenses Due	7,93,000 7,000	Electrical Fittings Furniture Books Investments in Securities Cash at Bank Cash in Hand	1,50,000 50,000 4,00,000 1,50,000 25,000 25,000
	8,00,000		8,00,000

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

Receipts	₹	Payments	₹
To Balance b/d: Cash at Bank Cash on Hand To Legacies To Membership Susbcription To Sale Proceeds of Old Papers To Hire of Lecture Hall To Interest on Securities	25,000 25,000 30,000 2,00,000 1,500 20,000 8,000	By Electric Charges By Postage and Stationery By Telephone Charges By Books Purchased (on 1.4.2021) By Outstanding Expenses Paid By Rent By Investment in Securities By Salaries By Balance c/d Cash at Bank Cash in Hand	7,200 5,000 5,000 60,000 7,000 88,000 40,000 66,000 20,000 11,300
	3,09,500		3,09,500

Prepare Income & Expenditure Account for the year ending 31st March, 2022 and Balance Sheet as at that date after taking the following adjustments:

(i) Membership subscriptions included ₹ 10,000 received in advance.

(ii) Provide for Outstanding Rent ₹ 4,000 and Salaries ₹ 3,000.

(iii) Books to be depreciated @ 10% including additions. Electrical Fittings and Furniture are also to be depreciated at the same rate.

(iv) Interest on Securities is to be calculated @ 5% p.a. including purchase of investment made on 1st October, 2021 for ₹ 40,000.

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