Advertisements
Advertisements
प्रश्न
Write the word/phrase/term, which can substitute the following sentence.
The receipts which are not recurring in nature.
Advertisements
उत्तर
Capital Receipt
Explanation:
Capital receipts are non-recurring in nature, meaning they do not occur regularly. They include loans, disinvestment proceeds, recovery of loans, etc.
संबंधित प्रश्न
Receipt and Payment account is a ______ account.
Write one Word/Term/Phrase for the following statement.
All such receipts which are non-recurring in nature and not forming a part of regular flow of income.
State whether the following statement is True or False.
There is no difference between Receipts and Payment Account and Income and Expenditure Account.
Write the word/phrase/term, which can substitute the following sentence.
Accounts which records only cash transactions in case of Not for Profit Concern.
State whether the following statement is True or False with reasons.
Receipts and Payments Accounts do not have any opening balance.
State whether the following statement is True or False with reasons.
Receipts and Payments Account contains only the transactions relating to the current year.
Receipts and Payments Account falls under the category of _____ Account.
In Receipts and Payments Account the summary of _____ transactions are recorded.
Credit side of receipts and payments account shows cash ______.
Answer in one sentence only.
What is Receipts and Payments Account?
Find odd one:
Receipts and payments account is a _________.
Balance of receipts and payments account indicates the _________.
What is receipts and payments account?
Give four examples for capital receipts of the not-for-profit organisation.
Give four examples for revenue receipts of the not-for-profit organisation.
From the information given below, prepare the Receipts and Payments account of Kurunji Sports Club for the year ended 31st December, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Cash in hand (1.1.2018) | 4,000 | Paid for printing charges | 2,500 |
| Salaries paid | 3,000 | Lockers rent received | 1,000 |
| Life membership fees received | 10,000 | Tournament receipts | 14,000 |
| Subscription received | 15,000 | Tournament receipts | 10,500 |
| Rent received | 2,000 | Investments purchased | 25,000 |
From the following information, prepare the Receipts and Payments account of Cuddalore Kabaddi Association for the year ended 31st March, 2019.
| Particulars | ₹ | Particulars | ₹ |
| Opening cash balance (1.4.2018) | 11,000 | Interest and bank charges | 250 |
| Bank overdraft balance (1.4.2018) | 20,000 | Miscellaneous income | 350 |
| Stationery purchased | 5,200 | Upkeep of ground | 550 |
| Travelling expenses | 1,800 | Grant from Government | 12,000 |
| Dividend received | 3,000 | Telephone charges paid | 2,800 |
| General expenses | 500 | Endowment fund receipts | 10,000 |
| Admission fees | 4,000 | Insurance premium paid | 2,000 |
| Courier charges | 2,000 | Electricity charges paid | 5,000 |
| Municipal taxes paid | 3,000 | Closing cash balance (31.03.2019) | 1,750 |
Write the steps in ascending order of Conversion of a Receipt and Payment Account into an Income and Expenditure Account:
(i) Adjusting the revenue receipts on the debit side to include outstanding incomes and incomes relating to the current year received earlier and to exclude amounts received in arrears or in advance.
(ii) identifying and showing non-cash expenses and losses on the debit side of the Income and Expenditure Account.
(iii) computing and showing profits/losses from trading and/or social activities on the credit/debit side of the Income and Expenditure Account.
(iv) Ascertaining the surplus or deficit as the dosing balance of the Income and Expenditure Account.
(v) adjusting revenue payments on the credit side.
How would you treat the following item in the case of a 'not-for-profit' organization?
"Tournament Fund Rs.40.000. Tournament Expenses Rs.14.000. Receipts from Tournament Rs.16.000."
Consider the following statements,
Statement 1: "Receipt and Payment Account is a summary of all capital receipts and payments".
Statement 2: The Receipt and Payment Account is the summary of cash and bank transactions.
Consider the following statements
Statement 1 - "Receipt and Payment Account records the receipts and payments of revenue nature only".
Statement 2 - "Receipt and Payment Account records the receipts and payments of revenue nature and capital nature".
Pick the odd one out:
The nature of Receipts and Payments Account is ______.
Sports expenses ₹ 27,000 (excluding ₹ 7,000 unpaid expenses). The amount to be credited to Receipts and Payments Account will be:
Donations received for a special purpose ______
Subscription received by a school for organising annual function is treated as ______.
Which of the following represents capital receipt?
Out of the following items, which one is shown in the Receipts and Payments Account?
A school purchased a furniture for ₹ 80,000 and spent ₹ 1,200 for carriage. The furniture should be capitalised for:
The Receipts and Payments Account is a summary of ______.
If a general donation of smaller amount is received by a school, that donation will be shown on ______.
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
Payment of Honorarium of Secretary is a ______.
As per Receipts and Payments Account of Kala Club for the year ended 31st March, 2021, subscriptions received were ₹ 4,00,000.
| ₹ | |
| Subscriptions outstanding on 1.4.2020 | 1,00,000 |
| Subscriptions outstanding on 31.3.2021 | 70,000 |
| Subscriptions received in advance on 1.4.2020 | 50,000 |
| Subscriptions received in advance on 31.3.2021 | 80,000 |
Calculate the amount of subscriptions to be shown in Income and Expenditure Account for the year ended 31st March, 2021 as income from subscription.
From the following Receipts and Payments Account of “Matsyodari Engineering College, Aurangabad” for the year ending on 31st March, 2020 and additional informations, prepare Income and Expenditure Account for the year ending 31st March, 2020 and Balance Sheet as on that date:
| Dr. | Receipts and payment Account for the year ended 31st March, 2020 |
Cr. | |
| Receipts | Amount ₹ | Payments | Amount ₹ |
| To Balance b/d | By Salaries to Teaching Staff |
10,00,000 | |
| Cash in hand | 8,000 | By Electricity charges | 50,000 |
| Cash at bank | 1,00,000 | By Books | 64,000 |
| To Interest | 50,000 | By Furniture | 55,000 |
| To Subscription | 30,000 | By Stationary | 24,000 |
| To Life Membership Fees | 40,000 | By Fixed Deposit | 7,00,000 |
| To Donation | 5,00,000 | By Balance c/d | |
| To Tuition fees | 11,50,000 | Cash in hand | 20,000 |
| To Term fees | 2,00,000 | Cash at bank | 2,25,000 |
| To Sundry Receipts | 10,000 | ||
| To Admission Fees (Revenue) | 50,000 | ||
| 21,38,000 | 21,38,000 | ||
Additional information:
| Particulars | 01.04.2019 | 31.03.2020 |
| Books | 7,00,000 | 7,00,000 |
| Furniture | 3,19,000 | 3,00,000 |
| Building fund | 10,00,000 | ? |
| Fixed Deposit | 9,10,000 | ? |
| Capital Fund | 10,37,000 | ? |
Adjustment:
- 50% Donations are for Building fund and the balance is to be treated a Revenue Income.
- Outstanding subscription ₹5,300.
- Life Membership fees are to be capitalised.
Find the incorrect pair from group A and B.
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 | ? |
- 60 % Donations are for Building Fund and Balance is to be treated as Revenue Income.
- Outstanding Office Staff Salaries ₹ 70,000
