Tuesday, January 26, 2016

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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18 comments:

  1. Shobha Dhingani11 February, 2019 23:19

    The medicine bill is not considered in income and expenditure ac
    Plz do so

    ReplyDelete
    Replies
    1. Unknown10 February, 2020 12:09

      In adjustment it is written that medical bill is still due so it is eriwrit on the liability side

      Delete
  2. Shobha Dhingani11 February, 2019 23:19

    The medicine bill is not considered in income and expenditure ac
    Plz do so

    ReplyDelete
  3. Unknown13 February, 2019 16:29

    Ae Dhokle

    ReplyDelete
  4. Unknown13 February, 2019 16:30

    Correct the answer

    ReplyDelete
  5. Athalatics17 February, 2019 12:22

    This comment has been removed by the author.

    ReplyDelete
  6. Unknown03 March, 2019 20:28

    From where furniture is sold, in balance sheet

    ReplyDelete
  7. Unknown03 March, 2019 20:31

    This comment has been removed by the author.

    ReplyDelete
  8. Unknown04 March, 2019 15:05

    The calculation are not proper

    ReplyDelete
  9. Unknown05 March, 2019 14:12

    Medicine bill is not calculated

    ReplyDelete
    Replies
    1. Anonymous11 December, 2019 19:23

      It's calculated in liability side as it was not paid off

      Delete
  10. Unknown02 February, 2020 00:29

    Sir if the medical bill was not still due (not given in adj)then where we have to post it?

    ReplyDelete
    Replies
    1. Chirag11 February, 2020 07:46

      No need of any entry in such condition assume it has been paid but entry will not be in this year.

      Delete
  11. Unknown14 February, 2020 14:49

    Sir , why u didn't put 15000 of subscription in column of aseets side .

    ReplyDelete
  12. Unknown28 February, 2020 13:49

    The furniture was sale there income is don't mention in income side

    ReplyDelete

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