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1.14 Double Entry Book Keeping—CBSE XII

4. On the basis of the following information, calculate the amount of stationery to be shown in Income and
Expenditure Account for the year ended 31st March, 2019:
`
Stock of stationery on 1st April, 2018 3,000
Creditors of stationery on 1st April 2018 2,000
Amount paid for stationery during the year 10,800
Stocks of stationery on 31st March, 2019 500
Creditors of stationery on 31st March, 2019 1,300
[Stationery Used—` 12,600.]
5. Show how would you deal with the following items of the Cosmopolitan Club as on 31st March, 2019:
Particulars Dr. (`) Cr. (`)
Tournament Fund ... 10,000
Tournament Fund Investment 10,000 ...
Income from the Tournament Fund Investment ... 1,200
Tournament Expenses 800 ...
[Closing Balance of Tournament Fund—` 10,400.]
6. Receipts and Payments Account of Friends Club showed that ` 6,85,000 were received by way of subscriptions
for the year ended on 31st March, 2018.
The additional information was as under:
(a) Subscription outstanding as on 31st March, 2017 were ` 65,000.
(b) Subscription received in advance as on 31st March, 2017 were ` 41,000.
(c) Subscription outstanding as on 31st March, 2018 were ` 54,000.
(d) Subscription received in advance as on 31st March, 2018 were ` 25,000.
Show how the above information would appear in the final accounts for the year ended on 31st March,
2018 of Friends Club.
[Subscription credited to Income and Expenditure Account for the year ended on
31st March, 2018 is ` 6,90,000. Subscription outstanding as on 31st March, 2018 is
` 54,000 and should be shown on the assets side of the Balance Sheet as on 31st March, 2018
and subscriptions received in advance of ` 25,000 as on 31st March, 2018
on the liabilities side of the Balance Sheet as on 31st March, 2018.]
[Hint: Subscription credited to Income and Expenditure Account
= ` 6,85,000 + ` 41,000 + ` 54,000 – ` 65,000 – ` 25,000 = ` 6,90,000.]
7. Following is the Receipts and Payments Account of Literacy Club for the year ended 31st March, 2019:
Dr. Cr.
Receipts ` Payments `
To Balance b/d 19,550 By Salary 3,000
To Subscriptions: By Newspapers 2,050
2017–18 1,200 By Electricity 1,000
2018–19 26,500 By F.D. (on 1.7.2018 @ 9% p.a.) 20,000
2019–20 500 28,200 By Books 10,600
To Sale of Old Newspapers 1,250 By Rent 6,800
To Government Grants 10,000 By Furniture 10,500
To Sale of Old Furniture 5,700 By Balance c/d 11,200
(Book value ` 7,000)
To Interest on Fixed Deposits 450
65,150 65,150