[ISC] Q 50 Non-Trading Organisation Solution TS Grewal Class 11 (2023-24)

Share your love

Solution of Question number 50 Non Trading Organisation (NPO) Chapter TS Grewal class 11 ISC Board for 2023-24 Session?

The Accountant of Diana Club furnishes you the following Balance Sheet as at 1st April, 2022 and Receipts & Payments Account for the year ended 31st March, 2023:

Balance Sheet as at 1st April, 2022

LiabilitiesAssets
Capital Fund
Expenses Due
7,93,000
7,000
Electrical Fittings
Furniture
Books
Investments in Securities
Cash at Bank
Cash on Hand
1,50,000
50,000
4,00,000
1,50,000
25,000
25,000
8,00,0008,00,000

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

Receipts Payemnts
To Balance b/d:
Cash at Bank
Cash in Hand
To Legacies
To Membership Subscription
To Sale Proceeds of Old Papers
To Hire of Lecture Hall
To Interest on Securities
25,000
25,000
50,000
30,000
2,00,000
1,500
20,000
8,000
By Electric Charges
By Postage and Stationery
By Telephone Charges
By Books Purchaed (On 1.4.2022)
By Outstanding Expenses Paid
By Rent
By Investment in Securities
By Salaries
By Balance c/d:
Cash at Bank
Cash on Hand
7,200
5,000
5,000
60,000
7,000
88,000
40,000
66,000
20,000
11,300
3,09,5003,09,500

Prepare Income & Expenditure Account for the year ending 31st March, 2023 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 2022 for ₹ 40,000.

Solution:-

Below is the list of all the Practical problems

S.NSolutions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NSolutions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NSolutions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NSolutions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
38Question – 38
39Question – 39
40Question – 40
S.NSolutions
41Question – 41
42Question – 42
43Question – 43
44Question – 44
45Question – 45
46Question – 46
47Question – 47
48Question – 48
49Question – 49
50Question – 50
51Question – 51
52Question – 52
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 6552

Leave a Reply

Your email address will not be published. Required fields are marked *

x