Page 265 - ISCDEBK-XI

Non-Trading Organisation 23.13

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

Capital Fund: Building 20,000
As on 1.4.2019 (WN 1) 30,350 Less: Depreciation 2,000 18,000
Add: Admission Fees 1,000 Equipment 10,000
Surplus for the year 21,870 53,220 Less: Book value of
Reserve: Lawn mower Sold 600
Donations 10,000 9,400
Surplus from Tournament Add: Purchases 2,000
(` 4,000 – ` 1,000) 3,000 13,000 11,400
Loan from Bank 10,000 Less: Depreciation 400 11,000
Add: Interest Accrued for 7 Months 1,050 11,050 Stock of Tinned Provision 1,400
Creditors for Expenses: Cash 47,950
Salaries 2,000 Subscriptions in Arrear 900
Telephone 100 2,100 Municipal Tax Paid in Advance 120
79,370 79,370

Working Notes:

1. BALANCE SHEET
as at 1st April, 2019
Liabilities ` Assets `
Creditors for Expenses: Building 20,000
Salaries 1,000 Equipment 10,000
Telephone 50 1,050 Stock of Tinned Provision 1,000
Capital Fund (Balancing Figure) 30,350 Subscriptions in Arrear 400
31,400 31,400

2. Dr. CATERING ACCOUNT Cr.
Particulars ` Particulars `

To Opening Stock of Tinned Provision 1,000 By Receipts 12,000
To Purchase of Tinned Provision 3,000 By Closing Stock of Tinned Provision 1,400
To Expenses 8,000
To Profit transferred to
Income & Expenditure A/c 1,400
13,400 13,400