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  • Non Profit Making Organization: Working Notes

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    Lenon Farayi Sigauke
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    This document provides working notes and accounting statements for a non-profit organization. It includes calculations for accumulated funds, purchases, and subscriptions. It also includes a bar trading account, income and expenditure account, and statement of financial position. The income and expenditure account shows income from subscriptions, the bar, and quiz, along with expenses. The statement of financial position lists assets, liabilities, and that total assets are financed by accumulated funds and surplus.

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    This document provides working notes and accounting statements for a non-profit organization. It includes calculations for accumulated funds, purchases, and subscriptions. It also includes a bar trading account, income and expenditure account, and statement of financial position. The income and expenditure account shows income from subscriptions, the bar, and quiz, along with expenses. The statement of financial position lists assets, liabilities, and that total assets are financed by accumulated funds and surplus.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    155 views2 pages

    Non Profit Making Organization: Working Notes

    Uploaded by

    Lenon Farayi Sigauke
    This document provides working notes and accounting statements for a non-profit organization. It includes calculations for accumulated funds, purchases, and subscriptions. It also includes a bar trading account, income and expenditure account, and statement of financial position. The income and expenditure account shows income from subscriptions, the bar, and quiz, along with expenses. The statement of financial position lists assets, liabilities, and that total assets are financed by accumulated funds and surplus.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
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    Non Profit Making Organization

    Working Notes: (w-1) calculation of Accumulated Funds: A. Funds = Assets - Liabilities OR Trial Balance OR Statement of Affairs (w-2) calculation of purchases: Creditors a/c
    $ Bank Bal c/d xxx xxx xxx Bal b/d Purchases $ Xxx xxx Xxx

    (w-3) calculation of subscription: Subscription a/c


    Arrears b/d I&E Refund Advance c/d $ xxx xxx xxx xxx xxx xxx Advance b/d Bank Sub. W. Off Arrears c/d $ xxx xxx xxx xxx Xxx Xxx

    Arrears b/d

    Advance b/d

    Bar Trading Account


    $ Sales Cost Of Goods Sold: Opening Inventory (Stock) (refreshments) + Purchases (see W-2) - closing Inventory (Stock) (refreshments) GROSS PROFIT less: Bar Expenses Profit from BAR Xxx Xxx (xxx) (xxx) xxx (xxx) xxxx $ xxx

    Income & Expenditure Account For the year ended 31 Dec. 2010
    Incomes: Subscription (see W-3) Profit from bar Profit from quiz (Income Exp.) Entrance fee Expenses: Ground mans wages Cleaning Depreciation of premises Surplus / deficit $ Xxx Xxx Xxx Xxx Xxx Xxx Xxx (xxx) xxx $

    xxx

    Statement of Financial Position As at 31 Dec. 2010


    Non-Current (Fixed) Assets: Premises Fixtures Current Assets: Closing Inventory (Stock) Subscription in Arrears Prepaid Bank Cash Current Liabilities: Creditors Subscription in advance Owings *Bank overdraft WORKING CAPITAL Long - Term Liabilities: Special purpose Gift Loan Total Assets (capital employed) Financed By: Accumulated Funds (see W -1) + Surplus xxx xxx xxxxx xxx xxx (xxx) xxxxx xxx xxx xxx xxx (xxx) xxx xxx xxx xxx xxx xxx xxx Cost $ xxx xxx Depn $ (xxx) (xxx) NBV $ xx xx xxx

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