Cash in hand or at bank, Question 11. 2,600 pertaining to 2005 and Rs. If you want more practice with full accounting questions and answers you should get the official exercise book for this site, Volume 2 in the Accounting Basics series: the Workbook.. Accounting Basics: Workbook has 88 questions and exercises, starting from the accounting equation and basic concepts to journal entries, T-accounts, the trial balance, financial … However, the following differences may be noted: 1. In 2011, the Club has raised a bank loan of 2,00. Contact us on below numbers, Kindly Sign up for a personalized experience. Receipts and payment account is a account a. The receipts and payments account and the income and expenditure account of a Club for the year ended 31st December, 2012 were as follows: Answer: Receipts and Payment Account The club’s assets as on 1 st January 2012 were: Building र 15,000; Books र 10,000 Furniture र 4,000; Investments र 10,000 Liabilities as on that date were र 50 for advertisement and र 100 for salary. (It will be the excess of asset over liabilities in opening balance sheet). Building Rs.44, 000; Furniture Rs. Income and expenditure account is the account of a non trading concern a. 4,000 for 2005 and Rs. Gift c. Legacy d. Secret donation Answer: c. Legacy, Question 9. ലാഭേച്ഛയില്ലാതെ പ്രവർത്തിക്കുന്ന സ്ഥാപനങ്ങളുടെ അക്കൗണ്ടിംഗ് സ്റ്റേറ്റ്മെന്റിൽ ഉൾപ്പെട്ട അക്കൗണ്ടാണ് ഇത്.
The charges for each quarter are same both for 2002-03 and 2003-04. Subscription received from members is credited to Income and Expenditure Account on accrual basis i.e. Subscription received from members is treated as revenue income. From the following Trial Balance and accompanying notes for adjustments, prepare Income and Expenditure Account for the year ended 31st December 2004 and the Balance Sheet as on that date of a Club: (a) Out of the total subscriptions, Rs 1,125 represented arrears collected and Rs 760 paid in advance. Sports equipment was valued on 31st December 2003 at Rs 550 and on 31st December 2004 at Rs 1,090. 5. It starts with opening balance of cash or bank or both.
7.000; subscription in arrears on that date Rs. Besides this, the professional people do not approach the court for recovery of such outstanding incomes. Transfer balance of income and expenditure account to capital fund account. 2,600 still owes; stationery expenses etc. The Club took a loan of Rs.
Company b. Purchase of assets are entered in non profit organization’s book is called a.
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