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Non-Trading Organisation 23.11

BALANCE SHEET as at 31st March, 2020
Liabilities ` Assets `

Capital Fund (WN 2) 3,14,400 Furniture 85,000
Add: Surplus 31,000 Less: Depreciation 5,000 80,000
Entrance Fees 25,500 Books 2,00,000
Life Membership Add: Purchases 21,300
Subscriptions 25,000 3,95,900 2,21,300
Outstanding Rent 6,000 Less: Depreciation 11,300 2,10,000
Fixed Deposit 80,000
Accrued Interest on FD (WN 1) 1,200
Subscription Receivable 4,500
Cash at Bank 24,200
Cash in Hand 2,000
4,01,900 4,01,900
Working Notes:
1. Calculation of Interest Outstanding on Fixed Deposit: `
Interest on ` 80,000 for 6 months @ 6% p.a. 2,400
Less: Interest on FD received 1,200
Interest Outstanding on Fixed Deposit 1,200
2. Calculation of Capital Fund as on 1st April, 2019:
BALANCE SHEET as at 1st April, 2019
Liabilities ` Assets `
Rent Outstanding 6,000 Cash in Hand 31,900
Capital Fund (Balancing Figure) 3,14,400 Subscriptions in Arrear 3,500
Books 2,00,000
Furniture 85,000
3,20,400 3,20,400

Illustration 8.
Given below is the Receipts & Payments Account of the Marigold Cricket Club for the year
ended 31st March, 2020:
RECEIPTS & PAYMENTS ACCOUNT
Dr. for the year ended 31st March, 2020 Cr.
Receipts ` Payments `

To Members’ Subscriptions 30,000 By Equipment Purchased 2,000
To Members’ Admission Fees 1,000 By Expenses for Tournament 1,000
To Sale of Old Balls and Bats 50 By Telephone 300
To Donations 10,000 By Grass Seeds 200
To Tournament Receipts 4,000 By Municipal Tax 400
To Loan from Bank 10,000 By Salaries 5,000
To Catering Receipts 12,000 By Catering Expenses 8,000
To Sale of Lawn mower (Book value ` 600) 800 By Purchase of Tinned Provision 3,000
By Balance c/d 47,950
67,850 67,850