Following is the Balance Sheet as on 1.4.2012 and receipts and payments account of Mahakavi Kalidas Library, Nashik.
Thinking time: Analyze the adjustments before checking the solution below
Solution: In the books of Mahakavi Kalidas Library, Nashik
Income and Expenditure Account for the year ended 31.3.2013
| Expenditure | Amount | Amount | Income | Amount | Amount |
|---|---|---|---|---|---|
| To Electricity Charges | 6980 | By Members Subscription | 180000 | ||
| To Postage and Telegram | 6100 | Add: Outstanding Subscription | 7500 | ||
| To Sundry Expenses | 10500 | Less: Pre - received Subscription | 15000 | 172500 | |
| To Depreciation: | By Entrance Fees | 25000 | |||
| Furniture | 8650 | Less: Capitalised | 12500 | 12500 | |
| Books | 100000 | 108650 | By Sale of Old Newspapers | 1500 | |
| By Hire of lecture hall | 18000 | ||||
| By Interest on securities | 4000 | ||||
| To Income Over Expenditure [Surplus] | 76270 | ||||
| Total | 208500 | Total | 208500 |
Balance Sheet of Mahakavi Kalidas Library as on 31.3.2013
| Liabilities | Amount | Amount | Assets | Amount | Amount |
|---|---|---|---|---|---|
| Capital Fund | 690000 | Furniture | 72500 | ||
| Add: Entrance Fees | 12500 | Add: Purchased | 28000 | ||
| Add: Surplus | 76270 | 778770 | 100500 | ||
| Pre - received Subscription | 15000 | Less: Depreciation | 8650 | 91850 | |
| Books | 551000 | ||||
| Add: Purchased | 80000 | ||||
| 631000 | |||||
| Less: Depreciation | 100000 | 531000 | |||
| Investment in securities | 50000 | ||||
| Add: Purchased | 100000 | 150000 | |||
| Cash in Hand | 6420 | ||||
| Cash at Bank | 7000 | ||||
| Outstanding Subscription | 7500 | ||||
| Total | 793770 | Total | 793770 |
Additional Resources & Past Papers
1. Accounts - March 2025 - English Medium
2. Accounts - March 2025 - Marathi Medium
3. Accounts - March 2025 - Hindi Medium
4. Accounts - July 2025 - English Medium
5. Accounts - March 2024 English Medium
6. Accounts - March 2024 - Marathi Medium
7. Accounts - March 2024 - Hindi Medium
8. Accounts - July 2024 - English Medium
9. Accounts - July 2023 - English Medium
10. Accounts - March 2022
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11. Accounts - July 2022
12. Accounts - March 2021
13. Accounts - March 2020
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14. Accounts - March 2014
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15. Accounts - October 2014
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16. Accounts - March 2015
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17. Accounts - July 2015
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18. Accounts - March 2016
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19. Accounts - July 2016
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20. Accounts - July 2017
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21. Accounts - March 2017
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22. Accounts - March 2018
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23. Accounts - July 2018
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24. Accounts - March 2019
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