jing | By: Kisalay Sir KISALAY COMMERCE CLASSES fr INTROSPECTION CA FOUNDATION —_-_ooooerr QE Value of assets as on 01.01.2000 50,000 Depreciating @¥ 10% on the closing balance of assets 6,000 Assets sold during the year (W.D.V. 10,000) 9,000 Prepare Asset Account and indicate how various items will be shown while preparing final accounts. | Solution: Assets Account ' | Date Particulars: Amount | Date Particulars ‘Amount | | ssa ag Suppose expenses paidd ve nation is available. Expenses unpaid on 31* 7 Expenses unpaid on 31%*Dec. 2007 Expenses prepaid on 318 Dec. 2008 Expenses unpaid on 31st Dec. 2008 Give Journal entries foF the above t as Prepaid A/é < ee ea a:KISALAY COMMERCE Cig. ‘Accounting | By : Kisalay Sir Expenses Outstanding Account Date ~ Particulars ‘Amount | Date Particulars | ia = @_ +} | | Expenses Prepaid Account [ Date Particulars ‘Amount | Date Particulars ‘Amount ea Le oo] . eo Gs Folowngis ie 2016. “Receipts ‘Amount @&) Balance b/d ~ Salary of Nurses Q 7 1,968 |.subscription’®. 3 jing. Lodging and pense. 4,140 « ae ~| Municipal Grant © , 2520 x Donation for Building F chased 6,000 Interest Dru B 2,010 \ 3741 COMME: 17979 €-0 recived for bung fond medicines for? 384. 48 GOWIF se sacby miake These were an uitanding Bil for Solution : “ ‘Vedraj Homeopathic Aushdhalaya Income and Expenditure A/c for the year ended 30% June, 2016 =F “Amount (2) 1968 oe whi 40 ened Ving be To. Can emp sl Zo Dog be atdielp 2o'0 | 2.344 ‘t 40ls 384 147-A/1 Near Banshi Bhawan , t 2 set ae 2016. :accounting | By: Kisalay Sir From the following Receipt and Pa additional information given, py KISALAY COMMERCE CLASSES ment Account of Unique Recreation Club for the year ended 31.03.2006 and epare an Income and Expenditure Account for the year ended 31.03.2006 and / Balance Sheet as on 31.03.2006: Receipt ina ~~ Payment | Amount (®) | Opening Balance Secretary's Salary © 12,000 Cash in hand and at Bank jy; Salaries to Staff & 25,000 ) Subscription @ 18,000 | Charities 2 1,000 Sale of Old Newspapers 2,500 | Printing and Stationery & ooo | Legacies. 4.000 | Postage Expenses & 120 | Interest on Investments & 2,000 | Rate & Taxes ie Endowment Fund Receipts €( L 20,000 | Upkeep ofthekad-Land 2,000 Risers of Sport and Concerts e 4,020 | Purchase of Sports Materials eg Advertisement in the Year Book 5,000 | Telephone Expenses & ; Closing Balance’ cosh arta Bank wi aeKISALAY COMMERCE Balance Sheet of Unique Recreation Club SuSE ‘As on 31 March 2006 - ‘Amount ai Assets Amora 26680) dand loom use| 800 | Fumie 2Qeeo -| "Sea (200) 'Zeoo —— «4 Aegacits ; r bwwest ret 20000 damned fond 2oce® |crk at bork seve ' . A 6 rere 5 yor reter Su _ hay Suh Out stony it - [36 200 ease ‘Working Notes: Balance Sheet of Unique Recreation Club/ / peonting | By: Kisalay sir KISALAY COMMERCE CLASSES Sation : Income and Expenditure Account of Chennai Club (For the year ended 31" December 2016) { Expenditure ‘Amount (®) 3 Income ‘Amount (2) t — Soe Pe Saban a Donatian pee % . | soo [69 Sub a few 2 mic Op See} 40 ‘Gsm | 11850 = pepe Gs | 12550, | ~P pad (ae)|. Pentre jee aa |. 7 Ietarene pres 200 vn By 1.8 ctctived from bok he; | wh Re Ne eRe eT Oo liese |T> Papin rink, ote i fate Oj deers eN 3o9 \Te sunpl 4150 |Byint an imei pat soe ex Balance Sheet of Chennai Club Ason31*December, 2016 Liabilities ‘Amount @ | ~_ Assets pmenat ©) | = co |Capih! gars ee | ¥ sunplaggl og nse” bore bour Denehien 2650 b/s jvsvedeel peeeo ‘Accounting | By :Kisalay Sir KISALAY CO Additional information: ae On 31.03.2001 | 7000) “Subscriptions outstanding 38 | Scepons ceed inavance 50 | stock of medicines 500 #| | amounts due to suppliers of medicines 400 1,050 2,000 Income and Expenditure Account for the year ended 31" March, 2002 Expenditure “Amount (@) income By Subs eviphion By Deranion fe Sunday xp {To Mediinsag Accounting | By :Kisalay Sir KISALAY COMMERCE Classes , Additional information: pn3i032001 | On 31.03.20 [ ae (000) (000) 3s ‘Subscriptions outstanding o Subscriptions received in advance Be Stock of medicines ae! At | Amounts due to suppliers ofmedcnes ie a Value of equipments i ee 5 Nalue of buildings ne Solution: Income and Expenditure Account for the year ended 31% March, 2002 mT Expenditure ‘Amount ®) | Tncome [To hannannm to Toctane Zoo |64 Subscviphier 2 Te Salat 1375 |B Desai Ss Working Note:KIsALAY COMMERCE CLASSES (iv) Ww) “To Cash in hand (01,0420 ‘ToSubseriptions: 2000-01 2001-02 erm coat To Income from enter ‘To Entrance fees To Interest on Securities ‘To ale proceeds of old chairs (books value Nil) By Investment in securities iy Pere ura AmountAccounting | By : Kisalay Sir Prepare Income and Expenditure Account of the Star Club Kisauay Sheet as at that date having due regard to the following aaa 31s Mare ace “N (i) The Club has 1,800 members, each paying an annual subscription of & 190, subscr 48 aan still in arrears in respect of the year 2000-01. ption amou (i) Stock of stationery on 31* March, 2001 was 1,250 and on 31 March, 2002 was® 670 (ii) Entrance fees are to be capitalized fi) Salary of € 5.500 for March, 2002 is outstanding Miscellaneous expenses outstanding on 31% Mare, 299 2001 amounted to & 1,320. The Start Club paid & 5,500 in the year 2000-01 towards telephone charges of 's of which IMINO 409 ,, ¥ 1,250 relate to the year 2001-02. (v) As on 31 March, 2001, premises stood in the books at & 2,45,000, % 65,000. Depreciate premises and furniture @ 5% per annum. furniture at % 10,000 and Investment at Solution: , Moon Club Income and Expenditure Account for the year ended 31% March, 2002 Working Note: Note: 1. Subscription RecelKISALAY COMMERCE Classes Accounting | By : Kisalay Sir ended 31* March, 2002 and 2 Bai Prepare Income and Expenditure Account of the oe ‘Sheet as at that date having due regard to the follo () The Club has 1,800 members, each paying an annual subscription still in arrears in respect of the year 2000-01. (i) Stock of stationery on 31° March, 2001 was 1,250 and on 31° March, {ii Entrance fees are to be capitalized (iv) Salary of & 5.500 for March, 2002 is outstanding Miscellaneous amounted to & 1,320. The Start Club paid % 5,500 in the year 2000+ £1,250 relate to the year 2001-02. avesoment (¥) As on 31 March, 2001, premises stood in the books at & 245,000, furniture at € 10,000 and k sent ¥ 65,000. Depreciate premises and furniture @ 5% per annum Solution: Star Club for the wing additional information : f% 100, Subscription amounting to 2002 was ® 870. expenses outstanding on 31* March. 01 towards telephone charges of wh Moon Club Income and Expenditure Account for the year ended 31 March, 2002 1. Subscription Receivable on 31. 200 M sagem SI ME Moon Cl Balance St a as Liabilities 147-A/1 Near Banshi Bhawan ,9 ial ci KISALAY COMMERCE CLASSES ~ Balance Sheet as on 314 Ma f Tiabil wreh, 2002 Ps ities ‘Amount (®) he “Araouat ©) Gs Form the following particulars, Prepare Income and Expenditure Account. Fees collected, including % 80,000 om Yaa % 3,80,000, Fees for the year outstanding 10,000. Salary paid including & 3,000 on account pee erin ear €/28,000; Salary outstanding at end of the year & 1,000 ; En nent jeeting expenses € 18,000; Travelling Exp. P dp na ny 19,000 for purchase of books © 29,000; Rent & P nes 15,000; Stationery % 4,000; Donations received % 20,000. Solution: Income and Expenditure Account for the y ear ended... {Bo The following informations were obtained from the books ‘year of the Club. You are required to prepare | for the year ended 31.03.2003 and.Accounting | By : Kisalay Sir ‘Sundry Rents Refreshment Account {ili) Other revenue expenditure and actual payment: Land (cost? 10,000) Furniture (cost ® 1,46,000) Salaries Maintenance of Playgrounds Rent Refreshment Account KISALAY COMMERCE Class 1600 11069 °S » - 16,000 Revenue Actual Income (®) Receipts (%) : 10,000 : 1,30,000 5,000 4,800 2,000 1,000 8,000 8,000 8,000 Donations to the extent of € 25,000 were utilized for the purchase of Library Books, balance was still unutilized. In order to keep if safe, 9% Govt. Bonds of & 1,60,000 were purchased on 31.03.2003. Remaining amount was putin the Bank on 31.03.2003 under the term deposit. Depreciation at 10% p.a. was to be provided for the whole year ‘on Furniture and Library Books. Solution:Liabilities ~s#nMERCE CLASSES ' KISALAY COMMERCE CLASSES Balance Sheet of Madras Medical Aid Society ASon 31" December, 2000 Amount (@) | AssetsKISALAY COMMERCE e Accounting | By : Kisalay Sir Be eon CUsses % ‘As on 31 March 2003 $ abilities ‘Amount (%) : Assets Amount | J {10 “Summary of Receipt and Payment of Madras Medical Aid Society for the year ended 31.12.2000 are as follows: ‘Opening Cash balance in hand & 8,000, Subscription & 50,000, Donation & 15,000, Interest on Investment @ 9%% pa. & 9,000, Payments for medicine supply ® 30,000 , Honorarium to Doctors % 10,000, Salaries % 28,000, Sundry Expenses % 1,000. Equipment Purchase & 15,000 , Charity show expenses % 1,500, charity show collection 212,500. “ Additional informations: 01.01.200 31.12.2000 Subscription due - Es Sacral mea aa gm Value of equi } ane Value of bu . Beensccounting | By : Kisalay Sir KISALAY COMMERCE CLASSES fan “The following Income and Expenditure Account Anandi Fun Club is for the year ended 41 December, 2000 ia Expenditure ‘Amount (%) | Income ‘Amant (7) To Opening Stock of Provisions 10,000 | By Subscription Ce To Purchase of Provisions 40,000 | By Donations mm To Salaries 15,000 | By Entrance Fee 1000 To Printing and Stationery 5,000 | By Sale of Provisions 13900 ‘To General Expenses 3,000 | By Closing Stock of Provision 5.006 To Depreciation on Equipment 1,000 To Excess of income over Expenditure 38,000 | 1,12,000 | 112,900 To following Balance Sheets are given to you is Balance Sheet as on 31% December 1999 and 2000 Liabilities 31" Dec. 1999 Creditors for Provisions General Fund Prepare Receipt Solution:A ing | By : Kisalay Sir KISALAY COMMERCE CLASSES 11. The following Income and Expenditure Account Anandi Fun Club is for the year ended 31* December, 2000, ; Expenditure ‘Amount Income ‘Amount (®) To Opening Stock of Provisions 10,000 | By Subscription 26,000 To Purchase of Provisions 40,000 | By Donations 30,000 To Salaries 15,000 | By Entrance Fee 8,000 ( To Printing and Stationery 5,000 | By Sale of Provisions 43,000 To General Expenses 3,000 | By Closing Stock of Provision 5,000 To Depreciation on Equipment 1,000 To Excess of income over Expenditure 38,000 l 1,12,000 1,12,000 To following Balance Sheets are given to you Py Balance Sheet as on 31*t December 1999 and 2000 Liabilities 31" Dec. | 31*Dec. Assets ‘31 Dec, | 31% Dec. 1999 2000 1999 2000 Creditors for Provisions 8,000, ient at written down value 10,000 15,000 General Fund 47,000 yf Pr ns 10,000 5,000 ~ ‘Wi AB 30,000 | 55,000 / ptior 5,000 | _ 20,000 ea. « 55,000 | 95,000 Prepare Receipt yi for jecemb Solution: % * sea Anandi Fun Club Ys Receiptsand Payment Account $e for 1 December, 2000) Date ” Parficulars e ; © = “ ‘Working Note: 1, Calculations of Subscription Received: Debtors |Accounting | By : Kisalay Sir KISALAY COMMERCE CLasses ue 2, Calculations of Provisions: Creditors for Provisions A/c Particulars ‘Amount Particulars ‘Amount © © , 3. Calculation of equipment purchased: Equipment Account Particulars: Amount Particulars Amount @ @ #12 From the following Income and Expei payment Account and subs: jon Account re. Ml Income and Expenditure Account’ for the year ended 31% March , 2013 Expe To Upkeep of Ground To Printing To Salaries | ‘Subscription in Advance 2013-14 Prize fund: Opening balance 25,000 ‘Add: Interest Less : Prizes given 26,000NE SMIMIINIERCE CLASSES G3 To Surplus A CORFU Re a ear and Payments Account — a Ending 31+ March, 2013 jount Payment Amount @ © Amount @ ‘The Delhi Sj o Amount © To Salaries 2 To Printing ai ‘- To Advertisi To Audit Fee m To Fire Insurance Te Deere cal - @ % Expenditure To Balance b/d To Life Memberships To Tournament Receipts To Subscription: 1999 Car 2000 ee 2001 a To Rend Received To Sale of Old Equipment ‘The:Accounting | By Ksalay Sir NISALAY COMMERCE CLasses Ys Solution: Balance Sheet as at December, 1999 ; ——"Tiabilities ~——=~S*S*~Y:CAmount | Assets "| Amor Liabilities ] Sr ©) — =f) Balance Sheet of the Bombay sports Club as at 31" December, 2000KISALAY COMMERCE CLASSES Balance Sheet as on December, 2015 | Amount Assets —— ©. Balance Sheet ‘on 31% December, 2016 a Amount ii Liabilities ‘Amount ‘Assets} ‘Accounting | By : Kisalay Sir KISALAY COMMERCE crassa, ? e7 Balance Sheet of the Hyderabad Education Society as at 31" December 2016 Liabilities ‘Amount Assets ‘Amount | To Balance b/d To Annual Income fro Subscripto ‘Add;idlay Sir KISALAY COMMERCE CLAsses pv" Income and Expenditure Account forthe year ended 31% March, 2003 Expenditure Amount Income Amount = : Balance Sheet As on31"March, 2003 Liabilities Amount Assets oe . ¢. io g Working Note: i he bs a.