Past Year Papers Chapter wise Solutions

Non-Profit Organization

How will the following items be presented in the ‘Income and Expenditure Account’ of a club for the year ending 31st March, 2019 and the Balance Sheet as on that date?   Rs. Tournament Fund on 1st April, 2018 3,00,000 10% Tournament Fund Investments on 1st April, 2018 3,00,000 Interest...

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How will the following information of Royal Sports Club be presented in the Income and Expenditure Account for the year ended 31st March, 2019 and its Balance Sheet as on that date? Particulars Amount Rs. Tournament Fund as on 1st April, 2018 5,00,000 Tournament expenses incurred during the year 8,00,000...

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Present the following items in the Balance Sheet of Queen’s Club as at 31st March, 2019: Capital Fund (1st April, 2018) Rs.  10,80,000 Building Fund (1st April, 2018) Rs.  4,80,000 Donation received for Building Rs.  6,00,000 10% Building Fund Investments (1st April, 2018) Rs.  4,80,000 Interest received on Building Fund...

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How the following items for the year ended 31st March, 2018 will be presented in the financial statements of Aisko Club: Particulars Debit Amount (Rs. ) Credit Amount (Rs. ) Tournament Fund – 1,50,000 Tournament Fund Investments 1,50,000 – Income from Tournament Fund Investments – 18,000 Tournament Expenses 12,000 –...

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From the following information, calculate the amount of sports material to be debited to ‘Income and Expenditure Account’ of a sports club for the year ending 31st March, 2019:   Rs. Stock of Sports Material on 1st April, 2018 10,000 Stock of Sports Material on 31st March, 2019 7,500 Creditors...

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From the following information, calculate the amount to be charged to Income and Expenditure Account for ‘Sports material consumed’ for the year 2019-20. Particulars Amount (Rs.) Stock of Sports material (01-04-2019) 60000 Amount paid to creditors (during 2019-20) 3,00,000 Creditors for Sports Materials (01-04-2019) 1,00,000 Creditors for Sports Materials (31-03-2020)...

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From the following information of a charitable dispensary, calculate the amount of medicines consumed during the year that would appear in the Income and Expenditure Account for the year ending 31st March, 2019: Particulars Amount Rs. Stock of medicines on 1.4.2018 60,000 Creditors for medicines 1.4.2018 40,000 Stock of medicines...

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From the given information of a hospital, calculate the amount of medicines consumed during the year 2018 ~ 19 Particulars Amount (Rs.) Payment for purchase of medicines 5,10,000 Creditors for medicines purchased :   On 1.4.2018 34,000 On 31.3.2019 29,000 Stock of Medicines :   On 1.4.2018 86,000 On 31.3.2019...

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Calculate the amount of medicines consumed during the year ended 31st March,2019 Particulars Amount (₹) Opening Stock of Medicines 50,000 Closing stock of Medicines 45,000 more than opening stock Amount paid for medicines during the year 2,00,000 Opening Creditors 20,000 Closing Creditors 50% of opening creditors               Marks 3, CBSE:2019-20/Sample/Q-14*...

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Calculate the amount of stationery to be posted to Income and Expenditure Account of Indian Cultural Society for the year ending 31st March, 2018 from the following information: Particulars 1.4.2017 Rs. 31.3.2018 Rs. Stock of stationery 21,000 18,000 Creditors for stationery 11,000 23,000 Stationery purchased during the year ended 31st...

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How would the following items be treated while preparing the financial statements of a sports club? Particulars  Amount Rs. Prize Fund 44,000 Interest on Prize Fund Investments 6,000 Prizes Awarded 46,000 Match Expenses 64,000 Prize Fund Investments 44,000 Marks-3, CBSE:2019-20/Main/01/Q-14* Answer Previous Or Next Back

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Calculate the amount of sports material to be transferred to Income and Expenditure account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March, 2018:- Particulars Amount (₹) i. Sports Material sold during the year (Book Value ₹ 50,000) 56,000 ii. Amount paid to creditors for sports material...

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Calculate the amount of Subscription to be credited to Income and Expenditure account for the year 2019-20. Particulars Amount (Rs.)   Amount received during the year (including Rs.  20,000 for 2018-19 , Rs. 30,000 for 2020-21 and Rs. 10,000 for 2021-22) 7,80,000   Subscription received in advance as on 01-04-2019...

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Janta Kalayan Club has 1250 members each paying an annual subscription of Rs. During the year ended 31st March, 2018 the club did not receive subscription from 45 members and received subscriptions in advance from 46 members for the year ending 31st March, 2019. On 31st March, 2017 the outstanding...

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From the following information, calculate the amount of subscriptions received by Happy Sports Club during the year ended 31st March, 2018. Particulars 31.03.2017 Rs. 31.3.2018 Rs. Advance Subscription 3,000 4,500 Outstanding Subscription 4,500 6,000   The Club has 2000 members each paying an annual subscription of Rs.  500. Marks-3, CBSE:2018-19/Main/04/Q-9...

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From the following particulars relating to Ganesh Charitable Society, prepare a Receipts and Payments Account for the year ending 31st March, 2019: Particulars Amount Rs. Opening balance of cash 20,000 Subscriptions received:   2017 – 18      25,000   2018 – 19   1,00,000   2019 – 20      15,000 1,40,000 Entrance fees...

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From the following particulars relating to Shyamji Charitable Society, prepare a Receipts and Payments Account for the year ending 31st March, 2019 : Particulars Amount (Rs.) Cash in hand as on 1.4.2018 16,000 Cash at bank as on 1.4.2018 28,000 Subscriptions (including Rs. 11,000 for 2017 ~ 18) 60,000 Donations...

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From the following information, calculate the amount of sports material that will be debited to the ‘Income and Expenditure Account’ of Bright Sports Club for the year ended 31-3-2019.  Particulars 1st April, 2018 Rs. 31st March, 2019 Rs. Stock of Sports Material 1,10,000 1,50,000 Creditors for Sports Material 25,000 60,000...

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