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Accountancy - Accounts of Not-For-Profit Organisation 3 Mark Creative Question Paper With Answer Key

12th Standard

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Accountancy

Time : 01:30:00 Hrs
Total Marks : 30

    3 Marks

    10 x 3 = 30
  1. Yuvan foundation is formed to educate and to provide jobs to unemployed women. Identify the values involved.

  2. Youth of India sports club decided to donate Rs. 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.

  3. What are the differences between Trade organisation and Not-for-profit organisation?

  4. From the following informatlon calculate the amount of subscription to be credited  to the Income and Expenditure A/c for the year 2013-14.

    Subscription received 50,000
    Subscription outstanding 31.03.2013 20,000
    Strbscription outstanding 2013 -2014 6,000
    Subscription recd. in advance 31.03.2013 8,000
    Subscription recd. in advance 31.03.2014 9,000

    Subscriptious of Rs. 9,000 is still in arrears for the year 2012- 13.

  5. Prepare balance sheet of Cosmos club as on 31st March, 2014.

    Particulars Debit Credit
    Tournament Fund - 1,50,000
    Tournament Fund Investment 1,50,000  
    Income from Tournament Ftrnd Investment - 18,000
    Tournament Expenses 12,000 -

    Interest accured on Tournament Fund Investment Rs. 6,000.

  6. From the following information calculate the amount of stationery to be shown Income and Expenditure A/c for March 2014.

    Stock of stationery on 1.4.2013 Rs. 50,000
    Stock of stationery on 31.03.2014 Rs. 40,000
    Amount paid for stationery Rs. 2,00,000
    Creditors for stationery 1.4.2013 Rs. 20,000
    CreditorsTor stationer 31.03.2014 Rs. 10,000
  7. What are the features of Not-for-profit organisation ?

  8. What are books maintained by not-for-profit organisation?

  9. From the following particulars'of Chennai Sports Club, prepare Receipts and Payment account for the year ended 31st March 2018.

    Particular Rs. Particular Rs.
    Openirrg cash balanct as on   Subscripions received  
    1.4.2017 10,000    
    Opening bank balrance as on      
    1.4.2017 15,000 2016 - 17 4,500  
    Interest paid 5,000 2017 - 18 65,000  
    Telephone expenses 7,000 2018 - 19 5,000 74,500
    Upkeep of grounds 22,500 Tournament expenses 12,500
    Life membership fees received 5,500 Tournament fund receipts 15,000
    Bats and balls purchased 13;000 Closing balance of cash  
        (31.3.2018) 5,000
  10. The following is the summary of cash transactions of Delhi Literary Club for the - Marending 31st March 2019. 
                                                   Delhi Literary club
                   Receiptsi and Payments Account for the Year ended 31st March, 2019

    Receipts Rs. Payments Rs.
    To Balance b/d   By Rent and Rates 21,000
    Cash in hand 3,200 By Lecture fees 4,500
    To Entrance fees 2,300 By Sundry Expenses 7,200
    To Subscriptions 46,000 By Fixed Deposit 40,000
    To Life membership fees 2,500 By Balance c/d  
    To Interest received   Cash in hand 4,300
    on Fixed Deposit 500    
    To Sale of furniture (1.4.2018) 22,500    
    .(Book value Rs. 25,000)      
      77,000   77,000

    Additional information:
    (i) Capital fuld as on 1st April 2019, was Rs. 63,200.
    (ii) At the beginning of th'e year, the club possessed books worth Rs. 20,000 and furniture worth Rs. 20,000.
    (iii) Subscription received in advance during the current year 
    Prepare Income and Expenditure account of the Club for the year ending 31st, March,
    2019 and the Balance Sheet as on that date.

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