Accounts of Not-For-Profit Organisation Three Marks Questions

12th Standard EM

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. From the following particulars of Tamil Educational Society, prepare Receipts and Payments account for the year ended 31st March, 2019.

    Particulars Rs. Particulars Rs.
    Opening cash balance as on 1.4.2018 18,000 Building purchased 2,10,000
    Rent paid 6,000 Staff salary 55,000
    Scholarship given 15,200 Subscription received 2,65,000
    Entrance fees received 18,500    
  2. How will the following items appear in the final accounts of a club for the year ending 31st March 2017? A club received subscription of Rs. 25,000 during the year 2016-17. This includes subscription of Rs. 2,000 for 2015-16 and Rs. 1,500 for the year 2017-18. Subscription of Rs.500 is still outstanding for the year 2016-17.

  3. What is income and expenditure account?

  4. State the differences between Receipts and Payments Account and Income and Expenditure Account

  5. How annual subscription is dealt with in the final accounts of not–for–profit organisation?

  6. From the following receipts and payments account and the additional information given below, calculate the amount of subscription to be shown in Income and expenditure account for the year ending 31st December, 2018

    Receipts Rs. Rs. Payments Rs.
    To Subscription        
    2017 28,000      
    2018 1,72,000      
    2019 12,000 2,12,000    
             

    Additional information: Subscription outstanding for the year 2018 is Rs.8,000.

  7. How the following items appear in the final accounts of Thoothukudi Young Pioneers Association? There are one hundred members in the association each paying Rs.25 as annual subscription. By the end of the year 10 members had not paid their subscription but four members had paid for the next year in advance.

  8. How will the following appear in the final accounts of Karaikudi sports club for the year
    ending 31st March, 2019?

    Particulars Rs.
    Tournament fund on 1st April 2018 90,000
    Tournament fund investment on 1st April 2018 90,000
    Interest received on tournament fund investment 9,000
    Donation to tournament fund 10,000
    Tournament expenses 60,000
  9. Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

  10. Youth of India sports club decided to donate ~ 50,000 and spread awareness among the people of nearby societies about cleanliness in the country under the programme "Bharat Abhiyan". Identify the values highlighted.

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