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NPO MARCH 2015 BOARD PAPER SOLUTION

March 2015 Accounts HSC Board Paper Solution

Question Paper Reference Images

Refer to the following images for the original question context.

Accountancy Board Paper March 2015 Page 8 Accountancy Board Paper March 2015 Page 9 Accountancy Board Paper March 2015 Page 10

Solution

Ans. In the books of Sevagiri Hospital, Satara
Income & Expenditure A/c for the year ended 31.03.2013
Expenditure Amount Rs. Amount Rs. Income Amount Rs. Amount Rs.
To Salaries 110000 By Subscription 130000
(-) Outstanding of last year 22000 (-) Outstanding of last year 2000
88000 128000
(+) Outstanding of current year 12000 100000 (+) Outstanding of Current year 15000 143000
To Medicines 48000 By Donations 44000
To Taxes 3000
(-) Prepaid Tax 500 2500
To General Expenses 8600
To Depreciation on :
Building 20,000
Equipments 30,000 50,000
To Loss on Sale of furniture 10,000
By Deficit c/d
[Income over Expenditure]		 32100
219100 219100
Balance Sheet as on 31.03.2013
Liabilities Amount Rs. Amount Rs. Assets Amount Rs. Amount Rs.
Capital Fund: 10,00,000 Land & Building 800000
(+) Life Membership Fees 25000 (-) Depreciation 20,000 7,80,000
(-) Deficit 32,100 9,92,900 Furniture 70,000
Outstanding Salaries 12000 (-) Furniture Sold 30000 40000
Outstanding Medical Bill 6000 Equipments 120000
(+) Equipments Purchased 20,000
140000
(-) Depreciation 30,000 110000
Outstanding Subscription 15,000
Prepaid Taxes 500
Cash in Hand 15,400
Cash at Bank 50,000
10,10,900 10,10,900

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