Question 1 following: March, 2017

provided with the on 31"

You are Balance Sheet as
(Rs.) Assets (Rs.)
Liabilities 1,06,200| Building 1,50,0
6,000 Outstanding Subscription
Capital Fund 3,800
received in Advance Locker Rent
Subscription 14,000 Outstanding 2.400
Outstanding Expenses 40,000 Cash in hand 20,00
Loan
10.000
Sundry Creditors
Total
1,76,200 1.76,200
Payment Account for the year ended on 31 March, 2018
The Receipts and
(Rs.) Payment (Rs)
Receipts
To Balance b/d By Expenses:
Cash in Hand 20,000 For 2017 12,000 -
To Subscriptions: For 2018 20,000 32,000
For 2017 2000 By Land 40.000
For 2018 21,000 By Interest 4,000
For 2019 1,000 24,000 By Miscellaneous Expenses 4,700
To Entrance Fees
38,000 By Balance c/d
To Locker Rent 18.300
7,000 Cash in Hand
To Sale proceeds of old 1,000
newspapers
To Miscellaneous Income
9.000
99.000
99,000
You are required to
a Balance Sheet as prepare Income and Expenditure
2018anu
at 31 March, 2018 account for the year ended 31 March,
(Workings should form part of your answer).
 Question 2
following Income and Expenditure account and the
ReceiptsandPayments Account and subscription account for theBalanze
Fromthe sheet31 of March,
year ended a club,2019:
prepare its
Income & Expenditure Account for the year 2018-19
Rs. Particulars
Particulars Rs.
ofground
11,000 By Subscriptions 19,052
Upkeep
To
1,100 By Sale of Newspapers (Old) 286
ToPrinting
ToSalaries
11,100|By Lectures (Fee) 1,650

on funiture 1,100 By Entrance Fee 2,145

Depreciation
To 1,660 By Misc. Income 440
ToRent
ByDeficit 2,387
25,960 25,960
Balance sheet as at 31 March 2019
Rs. Assets Rs.
Liabilities
110 Furniture 9,900
Subscription in advance
(2019-20) 51,700
Ground and Building
Prize fund: 22,000
Prize Fund Investment
Opening balance 27,500
2.530
Cash in Hand
Add: Interest 1,100 770
Subscription (outstanding)
28,600
2,200 26,400 (2018-2019)
Less: Prizes given
General Fund:
Opening balance 62,062
Less: Deficit 2,387
59,675
60,390 86,900
Add: Entrance Fee 715
86,900
the above accounts:
have been made in
201819.
The following adjustments relating to 2017-18 were paidin
Rs. 264
0) Upkeep of ground Rs. 660 and printing bytransferto
General Fund.
capitalized Rs. 770.
(0) One fourth of entrance fee has been for 2018-19
880and
was Rs. for 2019-20
(i)Subscription outstanding in 2017-18 220 andin2018-19
2017-18 was Rs.
received in advance in
(iwasv)Subscrip
Rs. 110.
tion
(v) Furniture was purchased during the year.
From the following balances and particulars of BEST College,
Account for the year ended March, 2020 and a Balance Sheet as on prepare Income & Expenditure
the date:
Particulars Question 3 Amount Amount
(Rs.) (Rs.)
Security Deposit - Students
Capital Fund 1,55,000
Building Fund 13,08,000
Tuition Fee Received 19,10,000
Government Grants 8,10,000
Interest & Dividends on lInvestments 5,01,000
Hostel Room Rent 1.75.000
Mess Receipts (Net) 1,65,000
College Stores - Sales 2,05,000
Outstanding expenses 7,60,000
2,35,000
Stock of Stores and | Supplies (opening) 3,10,000
Purchases - Stores & Supplies 8,20,000
Salaries - Teaching 8,75,000
Salaries - Research 1,25,000
Scholarships 85,000
Sudents Welfare expenses 37,000
52,000
Games & Sports expenses
Other investments 12,75,000
Land
1,50,000
15,50,000
Building
Plant and Machinery 8,50,000
Furmiture and Fittings 5,40,000
Motor Vehicle 2,40,000
Provision for Depreciation :
4,90,000
Building
5,05,000
Plant & Equipment
3,26,000
Furniture & Fittings
Cash at Bank 3,16,000
3,20,000
Library
75,45,000 75,45,000

Adjustments :
(a) Materials & Supplies consumed (From college stores):
Teaching Rs. 52,000.
Research Rs. 1,45,000
Students Welfare - Rs. 78,000
Games or Sports - Rs. 24,000
backward class Scholars Rs. 82,000.
(b) Tuition fee receivable from Government for
price:
(C) Stores selling prices are fixed to give anet profít of 15% on selling
the following rates:
()Depreciation is provided on straight line basis at
Building 5%

Plant &Equipment 10%

Furniture & Fixtures 10%

Motor Vehicle 20%

. Sharmila Library Societyshowed the following position on 31 March, 2017: Question 4
Balance Sheet as on 31 March, 2017
Liabilities Rs. Asscts
Capital fiund 7,93,000 Electrical fitings
Expenses payable 7,000 Furmiture
Books
1,5S00,000%%
Investment in securities
Cash at bank 1,525,0.000000
Cash in hand
8,00,000 25,000
The roceipts and payment account for the year ended on 31 March, 2018 is given below: 8,00,000
Rs.
Rs
To Balance b/d By Electric charges 7,200
Cash at bank 25,000 By Postage and stationary 5,00
Cash in hand 25,000 50,000|By Telephone charges 5,000
To Entrance fee 30,000 By Books purchased 60,000
To Membership subscription 2,00,000 By Outstanding expenses 7,000
paid
To Sale proceeds of old 1,500| By Rent 88,000
papers
To Hire of lecture hall 20,000 By Investment in securities 40,000
To Interest on securities. 8,000 |By Salaries 66,000
By Balance c/d
Cash at bank 20,000
Cash in hand l1,300
3,09,500 3,09,500
You are required to prepare income and expenditure account for the year
ended 31 Marn.
2018 and a balance sheet as at 31', March, 2018 after making the
following adjustments:
Membership subscription included Rs. 10,000received in advance.
Provide for outstanding rent Rs, 4,000 and salaries Rs. 3,000,
Books to be depreciated (@ 10% includingadditions. Electrical fittings and furniture are also "
be depreciated at the same rate.
75% of the entrance fees is to be capitalized.
Interest on securities is to be calculated (@ 5% p.a. including purchases made on 1.10.2017 10
Rs. 40,000.