Accounts Board Paper Solution March 2018 | NPO Q6 | HSC 12th Commerce

Q. 6. NPO Solution: March 2018 HSC Board Paper

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Solution:

In the books of M/s A.S.C. College of Commerce.

Income and Expenditure Account

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Expenditure	Rs.	Rs.	Income	Rs.	Rs.
To Salaries		67000	By Admission Fees		40000
To Electricity		26200	By Donations	100000
To Stationery		18300	Less: Building Fund	50000	50000
To Dep. on Furniture.		10000	By Term Fees		100000
			By Tuition Fees	130000
			Less: Last Year Amount	12000
				118000
			Add: Outstanding of Current Year.	4200	122200
To Surplus C/d		190700
		312200			312200

M/s A.S.C. College of Commerce

Balance Sheet as on 31st March 2016

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Liabilities	Rs.	Rs.	Assets	Rs.	Rs.
Capital Fund:	120750		Books		41300
Add: Life Membership Fees	20500		Furniture	40000
Add: Surplus	190700	331950	Add: Purchased	45000
Building Fund	150000			85000
Add: Donations	50000	200000	Less: Depreciation	10000	75000
			Fixed Deposit	160000
			Add: Purchased	200000	360000
			Tuition Fees Receivable		4200
			Cash		1450
			Bank		50000
		531950			531950