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

19 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
  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
  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