19. Following is the Receipts and Payments Account for the year ended 31st March 2018 of Jain Trust: (6)
Receipts Rs Payments Rs
To Balance b/d
To Subscription
To Sale of Investment
To Interest of Investment
To Sale of Furniture
(Book value Rs. 6,000) 72,000
1,01,200
90,000
3,000
5,200 By Rent
By Salary
By Electricity Charges
By Purchase of Books
By Purchase of Furniture
By Defence Bonds
By Scholarship to Students
By Balance c/d 5,400
12,000
7,200
8,000
18,000
50,000
48,000
1,22,800
2,71,400 2,71,400
Prepare Income and Expenditure A/c for the year ending 31st March 2018 and Balance Sheet on that date on the basis of the following additional information:
(a) Subscription outstanding for the year ended 31st March 2017 and 2018 are Rs. 7,000 and Rs. 17,000 respectively. Subscription of Rs. 2,000 of last year is still outstanding.
(b) Interest on defence bonds Rs. 5,000 is outstanding.
(c) Rent is outstanding for 3 months.
(d) The book value of investment sold is Rs. 1,00,000. Investment of Rs. 20,000 is still in hands.
(e) The trust owns a building of Rs. 90,000 and furniture of Rs. 30,000 in the beginning of the year. Depreciation @5% is to be provided on the assets.
Answer:
who are who AJ Jacob e wkw energy needs e