OMTEX CLASSES: Punya Trust runs a charitable hospital and a dispensary and for the year ended 31st March, 2011, the following balances were extracted from its books:

Punya Trust runs a charitable hospital and a dispensary and for the year ended 31st March, 2011, the following balances were extracted from its books:

A Sample Balance Sheet
A Sample Balance Sheet
Additional information:
(i) The dispensary supplies medicines to hospital on requisitions and delivery notes; for which no adjustment has been made in the books. Cost of such supplies in the year was Rs 1, 20,000;
(ii) Closing stock of medicines at dispensary was Rs 80,000;
(iii) Stock of medicines on 31st March, 2011 at the hospital included Rs 8,000 worth of medicines belonging to patients; this has not been considered in arriving at the figure of consumption of medicines;
(iv) Donations were received towards the corpus of the trust;
(v) On 15th August 2010, one of the well-wishers donated surgical equipment, whose market value was Rs 80,000;
(vi) The hospital is to receive a grant of 25% of the amount spent on treatment of poor patients, from the local branch of the Red Cross Society. Such expenditure in the year was Rs 1 lakh;
(vii) Out of the fees recovered from the patients, 10% is to be given to specialists as retained;
(viii) Depreciation on assets, on closing balances, is to be provided on
Surgical equipment’s @ 20%
Buildings @ 5%
Furniture and fittings @ 10%
Ambulance @ 30%
Prepare the income and expenditure statements of the dispensary, trust and the hospital for the year ended 31st March, 2011 and statement of affairs of the trust as at that date.  
Income and Expenditure Account
Income and Expenditure Account
Income and Expenditure Account - Working Notes