Question 9: PRACTICAL PROBLEMS (Accounts of a Charitable Hospital) Following information has been provided by “Janseva Charitable Hospital”,

Question 9:

PRACTICAL PROBLEMS
(Accounts of a Charitable Hospital)
Following information has been provided by “Janseva Charitable Hospital”, Latur. You are required to prepare Income and Expenditure Account for the year ending on 31/03/2013 and Balance Sheet as on that date.
Balance Sheet as on 01/04/2012

Receipts and Payments Account for the year ending 31.03.2013
Adjustments:
1) On 31/03/2013 stock of Drugs was valued Rs 20,000.
2) Depreciate Building @ 5% p.a. and Ambulance by Rs 20,000
3) Life Membership Fees are to be capitalized.

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