The value involved are Respect for women and women empowerment.

(a) Sale of sports materials :
(i) Consumable items such as sports materials, stationery, medicines, etc., consumed during the year will appear on the debit side of income and expenditure account.
(ii) Opening stock + the current year - Consumption Purchases during Closing stock
(iii) Closing stock will appear on the assets side of the balance sheet as at the end of the year.
(iv) If there is any sale of old sports materials, etc., that will be shown on the credit side of income and expenditure account or can be subtracted from the respective items consumed on the debit side of income and expenditure account.
(b) Life membership fees:
Amount received towards life membership fee from members is a capital receipt as it is nonrecurring in nature.
(c)Tournament fund : If there are any specific funds such as tournament fund, prize fund, etc., these funds should be shown on the liabilities side of the balance sheet separately.

(A) Treatment in income and Expenditure account:
When subscription received for the current year, previous years and subsequent period are given separately, subscription received for the current year will be shown on the credit side of Income and Expenditure
Account after making the adjustments given below:
(i) Subscription outstanding for the current year is to be added.
(ii) Subscription received in advance in the previous year which is meant for the current year, is to be added.When 'total subscription received during the current year is given, that total subscriptions received during the current year will be shown on the credit side of Income and Expenditure Account after making the following-adjustments: (i) Subscription outstanding in the previous year which is received in the current year will be subtracted. Subscription outstanding for the current year is added.
(iii) Subscriptions received in advance in the previous year which is meant for the current year, is added and subscriptions received in advance in the current year which is meant for the subsequent year must be subtracted.
(B) Treatment in Balance Sheet
(i) Subscriptions outstanding for the current year and still outstanding for the previous year will be shown on the assets side of the balance sheet.
(ii) Subscriptions received in advance in the current year will be shown on the liabilities side of the balance sheet.

Dr. Income and Expenditure Account for the year ended 31st March 2019 Cr.

Expenditure	Rs.	Income	Rs.	Rs.
		By Subscription	48,000
		Add: Outstanding	12,000	60,000

Balance sheet as on 31st March, 2019

Liabilities	Rs.	Assets	Rs.	Rs.
		Outstanding subscription
Subscription received in		2017 – 2018	1,000
advance for the year 2019-20	3,000	2018 – 2019	12,000	13,000

Tutorial note

Total Subscription due for current the year (2018-19) 300 x Rs. 200	= Rs. 60,000
Less: Amount received for the current year (2018-19)	= Rs. 48,000
Outstanding subscription for the current year (2018-2019	= Rs. 12,000

Dr.
In the books of Trichy Educational Society Receipts and Payments Account for the year ended 31^st December, 2018 Cr.

Receipts	Rs.	Payments	Rs.
To Balance b/d		By Investments made	80,000
Cash in hand	20,000	By Honorarium paid	3,000
To Donation received	80,000	By Audit fees	2,000
To Locker rent received	12,000	By General expenses	7,000
To Sale of furniture	5,000	By Postage	1,000
To Subscription	10,000	By Balance c/d
		Cash in hand	34,000
	1,27,000		1,27,000

Dr. Receipts and Payments Account for the year ended
31^st March, 2019 Cr

Receipts	Rs.	Payments	Rs.
To Balance b/d		By Rent paid	6,000
Cash in hand	18,000	By Scholarship given	15,200
To Entrance fees	18,500	By Building purchased	2,10,000
To Subscription received	2,65,000	By Staff salary	55,000
		By Balance c/d
		Cash in hand	15,300
	3,01,500		3,01,500

Dr In the books of Cricket club Income and Expenditure Account for the year ending 31.3.2 Cr

Expenditure	Rs.	Rs.	Income	Rs.	Rs
To Salaries	2,000		By Subscriptions		10,400
			By Donation		2,000
Add: Outstanding	1,500	3,500	By Entrance fees		500
To Telephone charges		300	(50% of 1000)
To Electricity charges		600	By Bank interest	450
To Entertainment expenses	900		Add: Outstanding interest	150	600
			By Interest on investment		200
Add: Outstanding expense	500	1,400	By Hall rent		300
To Miscellaneous expenses		600
To Depreciation on furniture		375
To Surplus (Excess of income		7,075
over expenditure)
		14,000			14,000

To find the opening capital fund, opening balance sheet should be prepared.

In the books of Coimbatore Cricket Club Balance sheet as on 31^st March, 2015

Liabilities	Rs.	Assets	Rs.
Capital fund	10,500	Stock of balls and bats	3,000
(Balancing figure)		Cash at bank	8,000
Subscription received in advance	500
	11,000		11,000

Dr. Income and Expenditure Account for the year ended 31st March, 2016 Cr.

Expenditure	Rs.	Rs.	Income	Rs.	Rs.
To Maintenance		5,000	By Subscriptions	11,000
To Secretary’s honorarium		4,500	Add: Received in advance
To Bats and balls	7,400		in 2014-15 for 2015-16	500
Add: Opening stock	3,000			11,500
	10,400		Add: Outstanding for 2015-16	2,000	13,500
Less: Closing stock	1,000	9,400	By Sale of old bats and balls		100
			By Excess of expenditure
			over income (deficit)		5,300
		18,900			18,900

Balance sheet as on 31^st March, 2016

Liabilities	Rs.	Rs.	Assets	Rs.
Capital fund	10,500		Furniture	15,000
Less : Excess of expenditure			Stock of balls and bats	1,000
over income (deficit)	5,300	5,200	Subscriptions outstanding	2,000
Reserve for Pavilion Fund			Cash at bank	7,800
Subscriptions for tournament	2,000
Less: Tournament Expenses	1,400	600
Legacies		20,000
		25,800		25,800

Balance sheet as on 31^st March, 2018

Liabilities	Rs.	Assets	Rs.
Capital fund	1,15,000	Buildings	40,000
(Balancing figure)		Furniture	50,000
Loan borrowed	10,000	Investments	20,000
Subscription received in advance	5,000	Subscription outstanding	10,000
		Cash at bank	6,000
		Cash in hand	4,000
	1,30,000		1,30,000

In the books of Chennai Sports Club

In the books of Chennai Sports Club
Dr. Receipts and Payments Account for the year ended
31^st March, 2018 Cr.

Receipts	Rs.	Rs.	Payments	Rs.	Rs.
To Balance b/d:			By Interest paid		5,000
Cash	10,000		By Telephone expenses		7,000
Bank	15,000	25,000	By Upkeep of grounds		22,500
To Life membership fees		5,500	By Bats and balls purchased		13,000
To Tournament fund receipts		15,000	By Tournament expenses		12,500
To Subscriptions received			By Balance c/d
2016 – 2017	4,500		Cash	5,000
2017 – 2018	65,000		Bank (Bal. fig)	55,000	60,000
2018 – 2019	5,000	74,500
		1,20,000			1,20,000

Following are the steps involved in the preparation of receipts and payments accounts:
(i) Record the opening balance of cash in hand and favourable bank balance on the debit side of receipts and payments account. If there is a bank overdraft, it must be recorded on the credit side
(ii) Actual cash receipts during the year are recorded on the debit side and actual cash payments during the year are recorded on the credit side.
(iii) While recording cash-receipts and payments, no distinction needs to be made between revenue and capital items.
(iv) If the total of the debit side is more than the credit side, the balancing figure will appear on the credit side. It represents the closing balance of cash or bank.
(v) If the total of the credit side is more than the debit side, the balancing figure will appear on the debit side. It represents bank overdraft.

Following are the features of not-for-profit organizations.
(i) Not-for-profit organizations are the organizations which function without any profit motive.
(ii) Their main aim is to provide service to a specific group or the public act large.
(iii) Generally, they do not undertake business or trading activities.
(iv) Their main sources of income include subscription from members, donations, grant-in-aid and legacies

Dr. Income and Expenditure Account for the year ended 31^st March, 2017 Cr Expenditure Rs. Income Rs. Rs.     By Subscription 60,000       Add: Outstanding subscription for 2016-17 2,400       Subscription received in advance in         in advance in 1,000 63,400           Tutorial note
(i) Subscription for the year 2015-16 Rs. 7,500 and for the year 2017-18 Rs. 1,500 do not relate to the current year. So they should not be recorded in Income and Expenditure Account.
(ii) Subscription outstanding for the current year 2016-17 is Rs. 2,400. It should be added with the amount of subscription received during 2016-17.

(A) is true but (R) is false

Entrance fess
Reason : Entrance fee is a fee collected from every member only once at the time of his or her admission into the organ isation. It may be treated as a revenue receipts. Other three are treated as revenue payments