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From the information given below, prepare the Receipts and Payments account of Madurai Mother Theresa Mahalir Mandram for the year ended 31st December, 2018. - Accountancy

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प्रश्न

From the information given below, prepare the Receipts and Payments account of Madurai Mother Theresa Mahalir Mandram for the year ended 31st December, 2018.

Particulars Particulars
Cash balance as on 1.1.2018 2,000 Fire Insurance premium paid 1,500
Bank balance as on 1.1.2018 3,000 Subscription received 8,500
Sale of old newspapers 500 Furniture purchased 6,000
Stationery purchased 6,000 Purchase of newspapers 700
Audit fees paid 2,000 Depreciation on furniture 900
Entrance fees received 3,000 Cash balance as on 31.12.2018 2,500
Sundry charges 6,000 Conveyance paid 1,000
Scholarships given 2,000 Sale of furniture 4,000
Interest on investments 2,000    
खाता बही
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उत्तर

Dr. Madurai Mother Theresa Mahalir Mandram Receipts and Payments Account for the year ending 31.12.18 Cr.
Receipts Payments
To Balance B/d   By Stationery purchased 6,000
Cash 2,000 By Audit fees paid 2,000
Bank 3,000 By Sundry charges 6,000
To Sale of Newspaper 500 By Scholarships 2,000
To Entrance Fees 3,000 By Fire Insurance Premium 1,500
To Interest on Investment 2,000 By Furniture Purchases 6,000
To Subscription received 8,500 By Purchase of Newspaper 700
To Sale of furniture 4,000 By Conveyance Paid 1,000
To Balance Bank (O/D) 4,700 By Balance c/d (Cash) 2,500
  27,700   27,700
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  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 2: Accounts of not–for–profit organisation - Exercises [पृष्ठ ७१]

APPEARS IN

सामाचीर कलवी Accountancy [English] Class 12 TN Board
अध्याय 2 Accounts of not–for–profit organisation
Exercises | Q IV 3. | पृष्ठ ७१

संबंधित प्रश्न

Donation for Scholarship Fund is ______.


Write the word/phrase/term, which can substitute the following sentence.

Accounts which records only cash transactions in case of Not for Profit Concern.


In Receipts and Payments Account the summary of _____ transactions are recorded.


Life membership fees are treated as which type of receipt and is directly credited to the capital fund?


Fund Based Accounting is classified under:

(i) Unrestricted funds

(ii) Fixed assets funds

(iii) Restricted funds

(iv) Annuity funds


Subscription received by a school for organising annual function is treated as ______.


Out of the following items, which one is shown in the Receipts and Payments Account?


Features of Income and Expenditure are:

(i) No opening or closing balance

(ii) Prepared on an accrual basis

(iii) Records only Revenue Items

(iv) Relevant only to the current year


From the following Receipts and Payments Account of Bharati Vidyapeeth College, Kolhapur for the year ending 31st March, 2019 and additional information, Prepare Income and Expenditure Account for the year ended 31st March, 2019 and a Balance Sheet as on that date.

Dr. Receipts and payment Account
for the year ended 31st March, 2019
Cr.
Receipts Amount ₹ Payments Amount ₹
To Balance b/d:   By Salaries to:  
Cash  12,000 Teaching Staff 15,00,000
Bank  2,00,000 Office Staff 8,55,000
To Interest 60,000 By Printing & Stationery 27,000
To Donation 7,00,000 By Books 88,000
To Tuition Fees 15,00,000 By Furniture (Purchased on 1-1-2019) 78,000
To Admission Fees 65,000 By Drama Expenses 90,000
To Term Fees 4,00,000 By Postage 7,000
To Drama Receipts 1.00,000 By Telephone Charges 6,000
To Rent from use of Hall 6,000 By Electricity 61,000
To Legacies (Capital) 60,000 By Magazines and Newspaper 6,500
    By Balance c/d :  
    Cash 62,000
    Bank 3,23,000
  31,03,000   31,03,000

Additional information:

Particulars 01.04.2018 31.03.2019
Books 9,00,000 8,88,000
Furniture 3.26.000 3,00,000
Building Fund 8,27,000 ?
Capital Fund 6,11,000 ?
  1. 60 % Donations are for Building Fund and Balance is to be treated as Revenue Income.
  2. Outstanding Office Staff Salaries ₹ 70,000

Mumbai University prepares ______ Account instead of a Profit and Loss account.


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