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M.242 An Aid to Accountancy—CBSE XII

BALANCE SHEET
as at 31st March, 2018
Liabilities ` Assets `
Capital Fund 1,66,820 Van 63,000
Less: Deficit 25,370 1,41,450 Less: Depreciation 15,750 47,250
Computer (Cost ` 20,000) 16,000
Less: Depreciation 2,000 14,000
Sports Equipments (W.D.V.) 62,000
Less: Depreciation 8,000 54,000
Subscription in Arrears:
2016–17 (` 14,400 – ` 6,200) 8,200
2017–18 (` 16,200 – ` 8,200) 8,000 16,200
Cash at Bank 8,000
Cash in Hand 2,000
1,41,450 1,41,450

Working Notes:
1. Dr. SUBSCRIPTION ACCOUNT Cr.
Particulars ` Particulars `

To Subscription in Arrears 14,400 By Bank A/c:
To Income and Expenditure A/c 1,48,800 2016–17 6,200
(Balancing Figure) 2017–18 1,40,800 1,47,000
By Subscription in Arrears:
2016–17 (` 14,400 – ` 6,200) 8,200
2017–18 (` 16,200 – ` 8,200) 8,000 16,200
1,63,200 1,63,200

2. Loss on Sale of Van:
Cost of Van on 1st April, 2015 40,000
Less: Depreciation @ 25% 10,000
Book Value of Van as on 1st April, 2016 30,000
Less: Depreciation @ 25% 7,500
Book Value (W.D.V.) of Van as on 1st April, 2017 22,500
Less: Sale Proceeds 10,000
Loss on Sale of Van 12,500
14.
Dr. Y’S CAPITAL ACCOUNT Cr.
Particulars ` Particulars `
To Y’s Executor’s A/c (Transfer) 2,44,000 By Balance b/d 1,50,000
(Balancing Figure) By Y’s Current A/c 94,000
2,44,000 2,44,000