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
|
Very good sirrr
ReplyDeleteVery good sir........
ReplyDeleteek no. chacha
ReplyDeleteHow depreciation on furniture is 5000
ReplyDeleteIt should be 6000
Cause it effect is from 1st Oct that's 6 months or half year
DeleteCan u explain that plz
DeleteSee the new furniture was purchased on 1St Oct. So its calculation will be
Delete10000 mutiplied by 6/12 multiplied by 20/100
It's given that depreciation on furniture is at 20%
DeleteSo 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
1000×20÷100×6÷12=1000 it is wrong
Delete1000×20÷100×6÷12=100 it is correct
it's not 1000, it is 10,000
DeleteYes My Answer Is Also Coming 10000 Plz Explain Me
DeleteThen 20000+10000=30000 *20%÷100=6000×6÷12=3000 30000_3000=27000
DeleteDeprivation on Furniture Incorrect it should be 3,000 as it says in the middle of the year
ReplyDeleteYes it Should be 3000 (2000+1000)
DeleteAaare kaha se aate ho re Tum saale chuityee bokh ke
DeleteITS CLEARLY MENTIONED THERE THAT DEPRECIATION ON FURNITURE IS 20 PERCENT
abe 20 percent hai depreciation jhaat ke baal niche diya hai padhne nahi hota?
DeleteIt is given tht depn on furniture 20%.So the calculation will be
Delete=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
Tnks tanvi
Deleteabe chut mari ke 20% hai depre
ReplyDeleteSubcription ka adjustment Kuchh samajh nahi aa raha hi kaise advance aaya
ReplyDeleteTu gaand maara aapni Chu
DeleteIt's given that there are 100 members n RS 500 annual subscription so 100×500=500
DeleteSo 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
It's given that depreciation on furniture is at 20%
ReplyDeleteSo 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
But y have u taken 6 months in addition purchase , mention tho nahi kiya hai half month ka Lena hair
ReplyDeleteSubscription is quite confusing could u plz expalin air
ReplyDeleteThe 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
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Deletewhy is drama exp less from drama receipt?
ReplyDeleteanswer?
DeleteEven if you put it in expenditure side the answer in the balance sheet won't change
DeleteWhy outstanding subscription has no effect???
ReplyDeleteSee scnd effect is on asset side in balance sheet
DeleteI think so Salary final ans is wrong .It should come 34,400
ReplyDeleteWe 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
ReplyDeletePlease explain the adjustment of salary how the 35300 come?
ReplyDeleteSalary=35300（total amt）
Deleteless：for previous year=1300
add：outstanding for current year=700
So,35300-1300+700=34700
Furniture depreciation=
ReplyDelete1 year 20000x20/100=4000
6 months 10000x20/100x6/12=500
That means total answer is 4500
From where does the'Subscription received in advance' came in liability side of balance sheet?
ReplyDelete