Question

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

Answer 1

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