Professional Documents
Culture Documents
Question 1:
In 1999, the subscriptions received by Modern Club of Delhi were ` 20,450 including `
250 for1998 and ` 500 for 2,000. At the end of 1999, subscriptions outstanding for 1999 ere
` 750. The subscriptions due but not received at the end of the previous year i.e.,
31.12.1998 were ` 400 while subscriptions received in advance on the same date i.e., `
900. Calculate the amount of subscriptions to be credited to Income and Expenditure
Account for the year ending 31.12.1999.
Question 2:
From the following extracts of Receipts and Payments Account and additional
information, you are required to calculate the in income from subscriptions for the year
ending December 1999 and show them in the Income and Expenditure Account and the
Balance Sheet of a club:
Receipts and Payments Account
For the year ending on December 31, 1999
Receipts
Payments
Subscriptions
1998
5,000
1999
30,000
2000
6,000
41,000
Additional Information:
(i)
6,000
(ii)
5,000
(iii)
6,000
Question 3:
The accounts of a social club are made up annually as at 31 December. At 31 December
1998 subscriptions in arrears amounted to ` 2,500 and subscriptions received in
advance for 1999 amounted to ` 1,400. During 1999, subscriptions received were `
30,000. This included ` 1,200 in advance for 2000. At 31 December 1999, subscriptions
in arrears amounted to ` 3,500. The annual income and expenditure account is
credited with all subscriptions in respect of the year to which the account relates, on the
basis that all arrears will afterwards be collected.
Show the Subscriptions to be transferred to the income and expenditure account for the
year 1999.
What amount will be transferred to income and expenditure account, if the
subscriptions in arrears for 1999 are `3,500?
Question 4:
From the following information, find out the amount of subscriptions to be included in
the income and Expenditure Account for the year ended 31st March 2006:
Subscriptions were received during the year 2005-06 as follows:
For the year ending 2004-05
20,000
3,00,000
30,000
Subscriptions outstanding as on 31st March 2005 were ` 35,000 out of which ` 5,000
were considered irrecoverable. On the same date, subscriptions received in advance
for 2005-06 were ` 20,000. Subscriptions still out- standing as on 31st March 2006
amounted to ` 60,000.
NPO
Question 5:
From the following information, calculate the amount of stationery to be debited to
income and expenditure account for 1999:
`
Stock of Stationery on January 1, 1999
3,000
2,000
200
10,800
500
1,300
300
Question 6:
The following is the Receipts and Payments Account of Apollo Club in respect of the
year to 31 March 1999:
Receipts
1.4.98
Balance b/d
Cash in hand
31.3.99
Payments
2,000
Subscriptions:
31.3.99
Salaries
3,000
Stationery
1,000
1997-98
3,000
1998-99
4,000
Telephone Charges
1,500
1999-00
1,000
8,000
5,000
Profits on sports
3,000
Sundry Expenses
1,200
Balance c/d:
Cash in hand
14,200
300
200
3,200
14,200
NPO
Question 7:
The managing committee of the Social Club is concerned about the financial position of
the club following the sudden disappearance of the treasurer on 31 December 1996, the
annual accounting date. On 31 December 1995, the Balance Sheet of the Club showed
the following financial position:
Liabilities
Capital Fund
Creditors for provisions
Subscriptions in advance
Assets
1,20,490
20,600
60,000
Less: Depreciation
30,000
1,000
30,000
Stock of provisions
25,000
Subscriptions due
2,000
83,000
Cash in hand
2,090
1,42,090
1,42,090
Additional information:
1. Members pay an annual subscriptions of ` 100. An examination of the duplicate
receipt book showed that during the ye a r ended 31 December 1996, 480 members
had paid the cu rre n t years subscriptions, five members had paid off arrears of
previous year and ten members had paid in advance for 1997. Five members had
resigned without paying the previous years subscriptions and at the end of the year
there were 500 members on the register.
2.
The cash book has not been written up but an analysis of petty cash vouchers
showed the following expenditure:
`
Purchase of provisions
59,400
Salaries
36,000
2,000
Repairs
3,600
Miscellaneous expenses
3,400
3.
The Refreshment room incharge had handed over the takings daily to the
treasurer with till rolls which cannot be found. However he states that average gross
profit on sales would be 40%. The stock of provisions on 31 December 1996 was `
28,400 and cash in hand ` 4,360.
4.
Receipts
Opening balance
Deposits
83,000
4,15,780
2,60,000
Salaries
1,06,500
60,000
20,000
Telephone
4,98,780
2,900
Repairs
18,600
Balance c/d
30,780
4,98,780
NPO
5.
A bundle of unpaid bills has been found in he treasurers desk, which has been
summarized as follows:
Purchase of provisions
64,600
Electricity bills
1,600
2,100
Telephone
6.
600
Question 8:
The following is the Income and Expenditure Account of Youngmen Sports Club
for the year ended
March 31, 1999:
Salaries
24,000
Subscriptions
72,000
Rent
10,800
Entrance Fees
8,000
600
4,500
720
1,200
1,200
600
Miscellaneous Income
225
15,750
Electricity Charges
1,200
9,600
4,800
Surplus
Interest on 5% Investments
17,855
86,525
86,525
Additional Information:
i.
31.3.98
31.3.99
44,000
Bank Balance
4,800
Subscriptions in arrears
4,750
3,500
1,400
2,600
12,000
12,000
Salaries
600
1,200
Rent
900
1,800
Nil
600
780
320
5% investments
ii.
Expenses Outstanding:
iii.
1,400
2,950
iv.
Prize fund
4,600
3,250
NPO
v.
vi.
The book value, as on 1.4.1998 of sports goods sold in the year was ` 4,000.
Prize Fund is separately maintained-all receipts being credited to it separately
and expenditure met out of the fund directly. During the year credits to the
accounts amounted to ` 2,800.
vii.
viii.
ix.
x.
Required: Receipts and Payments Account for the year ended 31.3.1999 and the
Balance Sheet as on that date.
Question 9:
The Secretary of the Audit Education Society submitted to you the following receipts
and payments account and the income and expenditure account for the year ended
31 March 1998 Year:
Receipts and Payments Account
For the Year ending 31 March, 1998
`
Balance b/d
450
Printing
Interest
Advertisement
1996-97
100
1997-98
150
Staff salary
250
Tuition Fees
1997-98
1,000
1998-99
100
1,100
75
141
1,300
Furniture purchased
670
Rent
520
Miscellaneous expenses
110
Balance c/d
1,374
Entrance fees
1997-98
420
Membership fees
1996-97
300
1997-98
1,150
1998-99
390
Miscellaneous income
1,840
130
4,190
4,190
`
Printing
80
`
Tuition Fees
1,100
1,150
Advertisement
150
Membership fees
Rent
600
Miscellaneous income
130
Interest
160
Staff salary
Miscellaneous expenses
1,200
110
400
2,540
2,540
NPO
You are asked to give the Balance Sheet of the society as on 31 March 1997, and 31
March 1998. You are further told that the society had the following assets on 31.3.1997:
Investments
` 4,000
Furniture
` 1,000
` 500
Reference books