Contact Style About

CR.
(Ans. Surplus
31. The following is the Receipts and Payments A/c of the City Club for the year ended 31st
Decem

By Iris

CR.
(Ans. Surplus
31. The following is the Receipts and Payments A/c of the City Club for the year ended 31st
December, 2021 :
DR.
Payments
Receipts
₹
To Sports Fund Investment
By Affiliation fee to the
Alc (Jan. 1)
30,000 Pradesh Club
1,000
To Balance (Jan. 1) b/d
5,000 By Furniture (July 1)
3,000
To Subscription
By Sports Expenses
2,500
2020
500
By Sundry Expeses
15,200
2021
15,000
By Balance (Dec. 31) c/d
14,500
2022
1,000 16,500 By Sports Fund Investment
To Life Membership Fee
12,000 A/C (Dec. 31)
29,500
To Sale of Scrap
200
To Interest on Sports Fund
Investment
2,000
65,700
65,700
The Club has 1,600 members each paying annual subscription of * 10. Subscription of
450 are still in arrears for 2020. Life membership fees are to be transferred to Capital Fund.
Sports Expenses are to be met out of the Sports Fund and interest on sports fund investment
is also to be added in sports fund.
On January 1, 2021 the Club’s assets and liabilities included Furniture * 2,000, Sports Fund
and Sports Fund Investment of 30,000 each.
Provide depreciation on Furniture at 20% p.a. and prepare Income and Expenditure Account
for the year ended December 31, 2021 and Balance Sheet of the the Club as on that date.
[Ans. Opening Capital Fund 7,950 ; Deficiency * 700 and Total of the
New Balance Sheet 49,750]​

About the author
Iris

Ramesh borrowed rs 550000 at 12.5% p.a for 1.5 year. find the amount he had to pay after that period?
​

Find the amount when principal is
29200, rate 6%, Time 4 year 3 months.​

2 thoughts on “CR.<br />(Ans. Surplus<br />31. The following is the Receipts and Payments A/c of the City Club for the year ended 31st<br />Decem”

  1. Answer:

    CR.

    (Ans. Surplus

    31. The following is the Receipts and Payments A/c of the City Club for the year ended 31st

    December, 2021 :

    DR.

    Payments

    Receipts

    ₹

    To Sports Fund Investment

    By Affiliation fee to the

    Alc (Jan. 1)

    30,000 Pradesh Club

    1,000

    To Balance (Jan. 1) b/d

    5,000 By Furniture (July 1)

    3,000

    To Subscription

    By Sports Expenses

    2,500

    2020

    500

    By Sundry Expeses

    15,200

    2021

    15,000

    By Balance (Dec. 31) c/d

    14,500

    2022

    1,000 16,500 By Sports Fund Investment

    To Life Membership Fee

    12,000 A/C (Dec. 31)

    29,500

    To Sale of Scrap

    200

    To Interest on Sports Fund

    Investment

    2,000

    65,700

    65,700

    The Club has 1,600 members each paying annual subscription of * 10. Subscription of

    450 are still in arrears for 2020. Life membership fees are to be transferred to Capital Fund.

    Sports Expenses are to be met out of the Sports Fund and interest on sports fund investment

    is also to be added in sports fund.

    On January 1, 2021 the Club’s assets and liabilities included Furniture * 2,000, Sports Fund

    and Sports Fund Investment of 30,000 each.

    Provide depreciation on Furniture at 20% p.a. and prepare Income and Expenditure Account

    for the year ended December 31, 2021 and Balance Sheet of the the Club as on that date.

    [Ans. Opening Capital Fund 7,950 ; Deficiency * 700 and Total of the

    New Balance Sheet 49,750]

    Reply

Leave a Comment