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Non-Trading Organisation 23.35

Unsolved Questions

1. Given below is the Receipts & Payments Account of a Associated Sports Club for the year ended
31st March, 2020:
Dr. RECEIPTS & PAYMENTS ACCOUNT for the year ended 31st March, 2020 Cr.
Receipts ` Payments `

To Balance b/d 2,100 By Purchase of Sports Materials 7,000
To Subscriptions (including ` 1,000 for 2018–19 By Stationery 5,700
and ` 1,500 for 2020–21) 18,000 By Salaries 7,000
To Life Membership Fees 9,000 By Honorarium 3,000
To Legacies 2,000 By Upkeep of Ground 2,600
To Entrance Fees 4,000 By Audit Fees 2,000
To Donations for Building Fund 10,000 By Refreshments 1,400
To Touranment Fund 8,000 By Tournament Expenses 6,000
To Hire of Club Hall 5,000 By Match Expenses 1,000
To Sale of Old Bats and Balls, etc. 500 By 10% Investments (on 1.10.2019) 12,000
To Sale of Old Furniture 700 By Furniture (part payment) 5,000
By Balance c/d 6,600
59,300 59,300

Additional Information:
As at 1st April, 2019 (`) As at 31st March, 2020 (`)
Subscriptions Due 1,400 2,400
Subscriptions Received in Advance ... 1,500
Audit Fees Outstanding ... 1,000
Creditors for Stationery 600 500
Stock of Stationery ... 800
Stock of Sports Materials 1,100 1,500
Building 40,000 40,000
Furniture was sold on 1st April, 2019 at its book value. On the same date, Furniture of ` 8,000 was purchased.
Depreciation is to be charged @ 10% p.a.
Prepare the Income & Expenditure Account for the year ended 31st March, 2020 and the Balance Sheet as
at that date.
2. Following statement is submitted to you by the Secretary of The Agricultural Society:
Dr. RECEIPTS & PAYMENTS ACCOUNT for the year ended 31st March, 2020 Cr.
Receipts ` Payments `

To Balance b/d: By Secretary’s Salary 11,500
Cash 10,000 By Printing and Stationery 24,100
Bank 24,000 34,000 By Sundries 11,200
To Subscriptions: By Audit Fee 600
2018–19 3,000 By Show Expenses 51,500
2019–20 78,500 By Show Prizes 42,800
2020–21 2,500 84,000 By Deposits at Bank 20,000
To Entrance Fee at Show 57,100 By Balance c/d:
To Advertisements in Catalogues 4,200 Cash 4,600
To Interest on Investments 3,500 Bank 20,000 24,600
To Sale of Catalogues 3,500
1,86,300 1,86,300