Subscriptions
Received ₹25,000; Closing outstanding ₹3,000; Closing advance ₹1,000. Find income.
27000
Payments ₹15,000; Opening creditors ₹1,000; Closing creditors ₹1,800. Find purchases.
15,800
Furniture ₹40,000 (opening) + New furniture ₹10,000 bought mid-year; Rate 10%. Find total depreciation (new furniture for 6 months).
4500
Tournament Fund ₹40,000; Donations ₹15,000; Expenses ₹30,000. Find closing Tournament Fund.
25000
Prize Fund on 1.4.2023: ₹20,000. Interest received on Prize Fund Investment: ₹2,000. Prizes distributed during the year: ₹15,000. Find the closing balance of the Prize Fund.
7000
Received ₹60,000; Opening O/S ₹5,000; Closing O/S ₹8,000; Opening Adv ₹2,000; Closing Adv ₹4,000. Find income.
61,000
Purchases ₹10,000; Opening stock ₹2,000; Closing stock ₹2,500. Find consumption.
9500
Opening balance ₹1,00,000; Additions ₹20,000 (full year); Rate 10%. Find total depreciation.
12000
Cash ₹5,000; Bank ₹25,000; Furniture ₹40,000; Books ₹30,000; Outstanding Salary ₹2,000. Find Capital Fund.
98000
Opening Balance Sheet shows: Cash ₹5,000; Investments ₹50,000; Furniture ₹20,000; Outstanding Rent (liability) ₹2,000. Calculate the opening Capital Fund.
73000
Total subscription due for the year ₹30,000; Received only ₹22,000. Find outstanding amount.
8000
Opening creditors ₹500; Closing creditors ₹1,200; Cash paid ₹9,000. Find total purchases.
9700
Asset ₹8,000 (1.4.2023); Sold 30.9.2023; Rate 10% p.a. Find depreciation up to sale (6 months).
400
Sports Fund ₹25,000; Investment interest ₹2,000; Donations ₹10,000; Expenses ₹12,000. Find closing fund.
25000
Old newspapers sold during the year: ₹800. Old furniture (book value ₹5,000) sold for ₹5,500. Find the total amount to be shown on the income side of Income and Expenditure Account from these two items.
Sale of newspapers = 800 (fully income)
Profit on sale of furniture = 5,500 − 5,000 = 500
Total = 800 + 500 = ₹1,300
Subscription income shown in I&E is ₹45,000; Amount received in cash was ₹48,000. Is the difference outstanding or advance?
Advance 3000
Purchases ₹20,000 (of which ₹5,000 unpaid at year-end); Find cash paid for stationery.
15000
Building ₹5,00,000; Extension ₹1,00,000 added 1st October; Rate 5%. Find total depreciation for the year.
27500
Capital Fund (opening) ₹1,29,000; Life membership fees added ₹20,000; Surplus ₹6,000. Find closing Capital Fund.
155000
Entrance fees received during the year: ₹30,000. Club policy: 60% to be treated as capital receipt, remaining as revenue income. Find the amount to be shown in Income and Expenditure Account and the amount added to Capital Fund.
To Capital Fund (capitalised) = 60% of 30,000 = ₹18,000
To Income and Expenditure Account (revenue) = 40% of 30,000 = ₹12,000
Subscriptions received during 2023-24 amounted to ₹1,45,000. This includes ₹8,000 for 2022-23 and ₹5,000 received in advance for 2024-25. On 31.3.2024, subscriptions outstanding for 2023-24 were ₹12,000, and on 1.4.2023 subscriptions received in advance (for 2023-24) were ₹4,000. Also, out of the outstanding subscription of ₹8,000 for 2022-23 (shown in last year's Balance Sheet), only ₹6,000 was actually recovered this year; the balance is to be written off as irrecoverable. Calculate the subscription income to be credited to Income and Expenditure Account for 2023-24.
150000
Opening stock ₹4,000; Opening creditors ₹1,000; Payments ₹18,000; Closing creditors ₹1,500; Closing stock ₹2,000. Find consumption.
20500
Furniture on 1.4.2023: ₹60,000. New furniture purchased on 1.10.2023: ₹10,000. Depreciation rate: 10% p.a. Calculate total depreciation for the year.
6500
Opening Balance Sheet (1.4.2023): Cash ₹12,000; Investments ₹1,50,000; Building ₹4,00,000; Outstanding Subscription ₹6,000; Outstanding Salary ₹3,000; Advance Subscription ₹2,000; Sports Fund ₹40,000 (a separate specific fund). Calculate the opening Capital Fund.
5253000
A club received interest of ₹6,000 on its investments during the year at 10% p.a. However, out of total interest due for the year, ₹500 is still outstanding (not yet received) as on 31.3.2024. Find the amount of investment.
65,000