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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Book Back 5 Mark Questions with Solution Part - II

Published on: 03/06/2021

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Questions:

Generic 5

5 x 5 = 25

From the information given below, prepare Receipts and Payments account of Madurai Mother Theresa Mahalir Mandram for the year ended 31^st December, 2018

Particulars	Rs.	Particulars	Rs.
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

The following is the Receipts and Payments account of Madurai City Club for the year ending 31^st March, 2018.

Madurai City 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 Upkeep of ground		16,500
Cash	500		By Match expenses		19,000
Bank	7,000	7,500	By Sundry expenses		11,000
To Subscription (including
Rs. 4,000 for 2016-2017)		30,000	By Balance c/d:
To Legacies		9,000	Cash in hand	1,500
To Hall rent		10,000	Cash at bank	11,000	12,500
To Receipts for match fund		22,500
		79,000			79,000

Additional information:
On 1^st April, 2017, the club had investment of Rs. 40,000. The club also had a credit balance of Rs. 30,000 in Match fund account. On 31^st March, 2017 subscriptions in arrears were Rs. 4,000and the subscriptions in arrears on 31^st March, 2018 were Rs. 4,500. Prepare the final accounts.

From the following Receipts and Payments account of Coimbatore Cricket Club for the year ending 31^st March 2016, prepare income and expenditure account for the year ending 31^st March, 2016 and a balance sheet as on that date.

In the books of Coimbatore Cricket Club Receipts and Payments Account for the year ending 31^stMarch, 2016
Receipts	Rs.	Payments	Rs.
To Balance b/d:		By Maintenance	5,000
Cash at bank	8,000	By Furniture	15,000
To Subscriptions	11,000	By Tournament expenses	1,400
To Sale of old bats and balls	100	By Secretary’s honorarium	4,500
To Subscription for tournament	2,000	By Bats and balls	7,400
To Legacies	20,000	By Balance c/d:
		Cash at bank	7,800
	41,100		41,100

Additional information:
On 1^st April, 2015 the club had stock of balls and bats Rs. 3,000 and an advance subscription of Rs. 500. Surplus on account of tournament should be kept in reserve for permanent pavilion.Subscription due on 31.03.2016 was Rs. 2,000. Stock of bats and balls on 31.3.2016 was Rs. 1,000.

From the following Receipts and Payments Account of Friends Football club, for the year ending 31^st March, 2017, prepare Income and Expenditure Account for the year ending 31^st March, 2017 and the Balance sheet as on that date.
In the books of Friends Football Club

Dr. Receipts and Payments Account for the year ended 31^st March, 2017 Cr.
Receipts	Rs.	Rs.	Payments	Rs.	Rs.
To Balance b/d			By Furniture		7,000
Cash	1,000		By Sports materials purchased		800
Bank	10,000	11,000	By Special dinner expenses		1,500
To Subscriptions		5,000	By Electricity charges		900
To Legacies		6,000	By Balance c/d
To Collection for special			Cash in hand	1,800
dinner		2,000	Cash at bank	12,000	13,800
		24,000			24,000

Additional information:
(i) The club had furniture of Rs. 12,000 on 1^st April 2016. Ignore depreciation on furniture.
(ii) Subscription outstanding for 2016 - 2017 Rs. 600.
(iii) Stock of sports materials on 31.03.2017 Rs. 100.
(iv) Capital fund as on 1^stApril 2016 was Rs. 23,000.

From the following particulars of Poompuhar Literary Association, prepare Receipts and Payments account for the year ended 31^st March, 2019.

Particulars	Rs.	Particulars	Rs.
Opening cash in hand as on 1.4.2018	5,000	Subscriptions received	20,000
Bank overdraft as on 1.4.2018	4,000	Repairs and renewals	2,500
Printing and stationery	1,500	Conveyance paid	2,750
Interest paid	3,250	Books purchased	10,000
Sale of investments	1,000	Insurance premium paid	4,000
Purchase of refreshments	1,500	Sundry receipts	750
Outstanding salary	2,000	Government grants received	6,000
Endowment fund receipts	2,000	Sale of refreshments	1,500
Lighting charges	1,300	Depreciation on buildings	2,000
		Cash at bank on 31.03.2019	2,000

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Answers Key:

Generic 5

5 x 5 = 25

Dr.In the books of Madurai Mother Theresa Mahalir Mandram Receipts and payments Accounts for the year ended 31^stDecember 2018 cr
Receipts	Rs.	Rs.	Payments	Rs.
To Balance bid			By stationery purchased	6,000
Cash in hand	2,000		By Audit fees paid	2,000
Cash at bank	3,000	5,000	By Scholarship given	2,000
To Sale of old news papers		5,00	By Sundry charges	6,000
To Entrance fees received		3,000	By Fire insurance premium paid	1,500
To Subscription received		8,500	By Furniture purchased	6,000
To Sales of furniture		4,000	By Purchase of news papers	700
To Interest on investment		2,000	By Conveyance paid	1,000
To Balance c!d		4,700	By Balance cld
(Bank overdraft)			Cash in hand	2,500
		27,700		27,700

[Hint: As depreciation on furniture is a non cash item, it is excluded in receipts and payments account]

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

In the books of Madurai City Club Balance sheet of as on 31^st March, 2017
Liabilities	Rs.	Assets	Rs.
Capital fund		Investment	40,000
(Balancing figure)	21,500	Subscriptions outstanding	4,000
Match fund	30,00	Cash at bank	7,000
		Cash in hand	500
	51,500		51,500

Dr. Income and Expenditure Account for the year ended 31^st March, 2018 Cr.
Expenditure	Rs.	Income	Rs.	Rs.
To Upkeep of ground	16,500	By Subscriptions	30,000
To Sundry expenses	11,000	Less: Received for 2016-17	4,000
To Excess of income			26,000
over expenditure (surplus)	13,000	Add: Outstanding for the		30,500
		current year	4,500
		By Hall rent		10,000
	40,500			40,500

Balance sheet as on 31^st March, 2018
Liabilities	Rs.	Rs.	Assets	Rs.
Capital fund	21,500		Furniture	20,000
Add: Excess of income over			Investment	40,000
expenditure (surplus)	13,000	34,500	Subscription outstanding	4,500
Legacies		9,000	Cash at bank	11,000
Match fund	30,000		Cash in hand	1,500
Add: Receipts for match fund	22,500
	52,500
Less: Match expenses	19,000	33,500
		77,000		77,000

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

Dr. In the books of Friends Football Club Income and Expenditure Account for the year ended
31^st March, 2017 Cr.
Expenditure	Rs.	Rs.	Income	Rs.	Rs.
To Sports materials
consumed			By Subscription	5,000
Purchases	800		Add: Outstanding for 2016-17	600	5,600
Less: Closing stock	100	700	By Collection for special dinner		2,000
To Special dinner expenses		1,500
To Electricity charges		900
To Excess of income over expenditure (surplus)		4,500
		7,600			7,600

Balance sheet as on 31^st March, 2017
Liabilities	Rs.	Rs.	Assets.	Rs.	Rs.
Capital fund	23,000		Furniture	12,000
Add: Excess of income			Add: Additions	7,000	19,000
over expenditure (surplus)	4,500	27,500	Stock of sports materials		100
Legacies		6,000	Subscription outstanding
			for 2016-17		600
			Cash at bank		12,000
			Cash in hand		1,800
		33,500			33,500

In the books of Poompuhar Literary Association
Dr. Receipts and Payments Account for the year ended 31st March, 2019 Cr
Receipts	Rs.	Payments	Rs.
To Balance b/d		By Balance b/d
Cash in hand	5,000	Bank overdraft	4,000
To Sale of investments	1,000	By Printing and stationery	1,500
To Endowment fund receipts	2,000	By Interest paid	3,250
To Subscriptions received	20,000	By Purchase of refreshments	1,500
To Sundry receipts	750	By Lighting charges	1,300
To Government grants received	6,000	By Repairs and renewals	2,500
To Sale of refreshments	1,500	By Conveyance paid	2,750
		By Books purchased	10,000
		By Insurance premium paid	4,000
		By Balance c/d
		Cash at bank	2,000
		Cash in hand	3,450
	36,250		36,250