With the help of the Balance Sheet and Receipts and Payments Account of Adarsh Cultural Club, Mumbai.

6. In the books of Adarsh Cultural Club, Mumbai

Income and Expenditure Account for the year ended 31st March, 2013



Particulars
Amount
Amount
Particulars
Amount
Amount
To Salaries
35300

By Subscriptions
48000

Less: Previous year’s Outstanding Salaries paid
1300

Add: Outstanding for current year
2000
50000
Add: Outstanding for the current year.
700
34700
By Drama Receipts
28000

To General Expenses

8400
Less: Drama Expenses
16000
12000
To Printing & Stationery

4200



To Depreciation on Furniture

5000



To Excess of Income Over Expenditure (Surplus)

9700





62000


62000


Balance Sheet as on 31st March, 213



Liabilities
Amount
Amount
Assets
Amount
Amount
Capital Fund
257000

Buildings

250000
Add: Surplus
9700
266700
Furniture
20000

Building Fund
50000

Add: New Furniture Purchased
10000

Add: Donation for Building Fund
20000
70000
Less: Depreciation
5000
25000
Subscriptions received in advance

2000
Outstanding Subscription for 2012 - 13

2000
Outstanding salaries for 2012 - 13

700
Cash at Bank

57800



Cash in Hand

4600








339400


339400

38 comments:

  1. How depreciation on furniture is 5000
    It should be 6000

    ReplyDelete
    Replies
    1. Cause it effect is from 1st Oct that's 6 months or half year

      Delete
    2. Can u explain that plz

      Delete
    3. See the new furniture was purchased on 1St Oct. So its calculation will be
      10000 mutiplied by 6/12 multiplied by 20/100

      Delete
    4. It's given that depreciation on furniture is at 20%
      So the calculation will be
      Furniture : 2000×20÷100=4000
      Addition : 1000×20÷100×6÷12=1000 (for 6 months)
      Therefore the amount will be 4000+1000=5000

      Delete
    5. 1000×20÷100×6÷12=1000 it is wrong
      1000×20÷100×6÷12=100 it is correct

      Delete
    6. it's not 1000, it is 10,000

      Delete
    7. Yes My Answer Is Also Coming 10000 Plz Explain Me

      Delete
    8. Then 20000+10000=30000 *20%÷100=6000×6÷12=3000 30000_3000=27000

      Delete
  2. Deprivation on Furniture Incorrect it should be 3,000 as it says in the middle of the year

    ReplyDelete
    Replies
    1. Yes it Should be 3000 (2000+1000)

      Delete
    2. Aaare kaha se aate ho re Tum saale chuityee bokh ke
      ITS CLEARLY MENTIONED THERE THAT DEPRECIATION ON FURNITURE IS 20 PERCENT

      Delete
    3. abe 20 percent hai depreciation jhaat ke baal niche diya hai padhne nahi hota?

      Delete
    4. It is given tht depn on furniture 20%.So the calculation will be
      =20000x20/100=4000(as it is used for 1 yr)
      =10000x20/100x6/12=1000(as it is mentioned that furniture was purchased on 1st oct.
      So,4000+1000=5000

      Delete
  3. abe chut mari ke 20% hai depre

    ReplyDelete
  4. Subcription ka adjustment Kuchh samajh nahi aa raha hi kaise advance aaya

    ReplyDelete
    Replies
    1. Tu gaand maara aapni Chu

      Delete
    2. It's given that there are 100 members n RS 500 annual subscription so 100×500=500
      So it's already given that subscription is 48000 so we have to add only 2000 (50000-48000)
      N secend effect it will go to assest as outstanding subscription 2000

      Delete
  5. It's given that depreciation on furniture is at 20%
    So the calculation will be
    Furniture : 2000×20÷100=4000
    Addition : 1000×20÷100×6÷12=1000 (for 6 months)
    Therefore the amount will be 4000+1000=5000

    ReplyDelete
  6. But y have u taken 6 months in addition purchase , mention tho nahi kiya hai half month ka Lena hair

    ReplyDelete
  7. Subscription is quite confusing could u plz expalin air

    ReplyDelete
    Replies
    1. The subscription mentioned in recipt account for the current year is 48000 and they have mentioned below tht the annual subscription to be paid by 100 members is 500 rs thus...500×100=50000 it means tht...my subscription for..the current year should be 50000 but in recipt a/c it is 48000 means 2000 is my o/s subscription

      Delete
    2. This comment has been removed by the author.

      Delete
  8. why is drama exp less from drama receipt?

    ReplyDelete
    Replies
    1. Even if you put it in expenditure side the answer in the balance sheet won't change

      Delete
  9. Why outstanding subscription has no effect???

    ReplyDelete
    Replies
    1. See scnd effect is on asset side in balance sheet

      Delete
  10. I think so Salary final ans is wrong .It should come 34,400

    ReplyDelete
  11. We are supposed to deduct outstanding subscription for next year(2013 14) why did you add it? And outstanding for current year should be 4000 I guess

    ReplyDelete
  12. Please explain the adjustment of salary how the 35300 come?

    ReplyDelete
    Replies
    1. Salary=35300(total amt)
      less:for previous year=1300
      add:outstanding for current year=700
      So,35300-1300+700=34700

      Delete
  13. Furniture depreciation=
    1 year 20000x20/100=4000
    6 months 10000x20/100x6/12=500
    That means total answer is 4500

    ReplyDelete
  14. From where does the'Subscription received in advance' came in liability side of balance sheet?

    ReplyDelete

PDF FILE TO YOUR EMAIL IMMEDIATELY PURCHASE NOTES & PAPER SOLUTION. @ Rs. 50/- each (GST extra)

HINDI ENTIRE PAPER SOLUTION

MARATHI PAPER SOLUTION

SSC MATHS I PAPER SOLUTION

SSC MATHS II PAPER SOLUTION

SSC SCIENCE I PAPER SOLUTION

SSC SCIENCE II PAPER SOLUTION

SSC ENGLISH PAPER SOLUTION

SSC & HSC ENGLISH WRITING SKILL

HSC ACCOUNTS NOTES

HSC OCM NOTES

HSC ECONOMICS NOTES

HSC SECRETARIAL PRACTICE NOTES

2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

HSC ENGLISH SET C 2019 21st February, 2019

HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION COMMERCE, 2nd March, 2019

HSC MATHS PAPER SOLUTION SCIENCE 2nd, March, 2019

SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

HSC XII BIOLOGY 2019 6TH March, 2019

HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

SSC SCIENCE II MARCH 2019 SOLUTION 10TH STD. 18th March, 2019.

SSC SOCIAL SCIENCE I MARCH 2019 SOLUTION20th March, 2019

SSC SOCIAL SCIENCE II MARCH 2019 SOLUTION, 22nd March, 2019

XII CBSE - BOARD - MARCH - 2019 ENGLISH - QP + SOLUTIONS, 2nd March, 2019


BUY FROM PLAY STORE

DOWNLOAD OUR APP


HOW TO PURCHASE OUR NOTES?



S.P. Important Questions For Board Exam 2020


O.C.M. Important Questions for Board Exam. 2020


Economics Important Questions for Board Exam 2020


Chemistry Important Question Bank for board exam 2020


Physics – Section I- Important Question Bank for Maharashtra Board HSC Examination


Physics – Section II – Science- Important Question Bank for Maharashtra Board HSC 2020 Examination


MUST REMEMBER THINGS on the day of Exam


Are you prepared? for English Grammar in Board Exam.


Paper Presentation In Board Exam


How to Score Good Marks in SSC Board Exams


Tips To Score More Than 90% Marks In 12th Board Exam


How to write English exams?


How to prepare for board exam when less time is left


How to memorise what you learn for board exam


No. 1 Simple Hack, you can try out, in preparing for Board Exam

How to Study for CBSE Class 10 Board Exams Subject Wise Tips?

JEE Main 2020 Registration Process – Exam Pattern & Important Dates

NEET UG 2020 Registration Process Exam Pattern & Important Dates

How can One Prepare for two Competitive Exams at the same time?

8 Proven Tips to Handle Anxiety before Exams!