SUNIL PANDA COMMERCE CLASSES (SPCC)

CLASS WORK
XII ACCOUNTS TERM 02
NOT FOR PROFIT ORGANISATION
Q.1) From the information given below, Prepare Receipts and Payments Accounts of Sports
Club for the year ending on 31st march,2021

Particulars Amount ₹
Cash & Bank as on 1st April,2020 45,000
Subscriptions (including ₹8,000 for 2019-20 and ₹12,000 for 2021-22) 4,70,000
12% investments purchased on 1st April,2020 1,50,000
Entrance fees received 15,000
Sports materials purchased 70,000
Furniture purchased 80,000
Sale of old furniture (cost ₹20,000) 5,000
Municipal taxes 1,000
Printing and stationery 24,000
Sale of old sports materials 6,000
General expenses (out of which ₹2,000 is yet to be paid) 20,000
Interest received on investment 6,000
Tournament expenses 72,000
Salary paid 84,000
Postage and courier 2,000

Q.2) Following information is given by Alchemy Medical College, Library department for the
year 2020-21.

Particular amount
Books and journal fund on 1-4-2020 4,50,000
7% books and journal fund investment as on 1-4-2020 4,00,000
Interest on books and journals fund investments 13,000
Donations for books and journals 20,000
Books purchased 70,000
General fund as on 1-4-2020 10,00,000
Shows the accounting treatment of the above-mentioned items in the balance sheet of the
Alchemy medical college as at 31-3-2021.
Q.3) Calculate the amount of sports material to be transferred to Income and Expenditure
Account of Prisha Sports Club, Delhi, for the year ended 31st March, 2020 from the
following information
Q.4) From the following information given by Modern Dance Academy, calculate the
amount of Subscription received during the year 2020- 21.
(i) Subscription credited to Income & Expenditure A/c for the year ending 31st March ,2021
amounted to ₹3,00,000 and each member is required to pay an annual subscription of
₹ 3,000.
(ii) Subscription in arrears as on 1st April 2020 amounted to ₹ 16,000.
(iii) During the year 2020-21, 10 members made partial payment of ₹26,000 towards
subscription, 8 members failed to pay the subscription amount and 5 members paid the
subscription amount for the year2021-22.
(iv) During the year 2019-20, 12 members paid the subscription amount for the year 2020-
21.
Q.5) Subscriptions received during the year ended 31st march,2017 are:

Particulars Amount
For the year ended 31-3-2016 4,000
For the year ended 31-3-2017 2,11,000
For the year ended 31-3-2018 8,000
2,23,000
There are 450 members each paying an annual subscription of 500. 4,500 were in arrears for
the ended 31st march 2016 in the beginning of the year ended 31-3-2017. Calculate
subscriptions to be shown in income and expenditure account for the year ended 31-3-2017
and also show treatment of subscription in the income and expenditure account and
balance sheet.
Q.6) From the following Receipts and Payments account and information given below,
prepare income and expenditure account and balance sheet of superior literacy
organization as on 31st march,2020.

Receipts Amount ₹ Payments Amount ₹

 To balance b/d By general expenses 12,800
Cash in hand 16,000
Cash at bank 62,200 78,200
To subscription By newspaper 7,400
2018-19 4,800
2019-20 1,06,000
2020-21 2,000 1,12,800
To sale of old newspaper 5,000 By electricity 12,000
To government grant 48,000 By fixed deposit with bank 72,000
To sale of old furniture By books 28,000
(book value ₹20,000) 14,800
To interest received fixed By salary 14,400
deposit 1,800
By rent 26,000
By postage charges 12,00
By furniture (purchased) 42,000
By balance c/d
Cash in hand 12,000
Cash at bank 32,800 44,800
2,60,000 2,60,000
Additional information:
i) Subscription outstanding as on 31st march,2019 was ₹8,000 and on 31st
march,2020 was ₹6,000.
ii) Fixed deposit with bank was made on 30th September,2019 @10% p.a.
iii) On 31st march,2020 salary outstanding ₹2,400 and one-month rent paid
in advance.
iv) On 1st April,2019 superior literacy organization owned furniture of
₹48,000, books of ₹20,000.
Q.7) Prepare Income and Expenditure Account form the following particulars of Young
india. Year ended 31-3-2021
Additional information: -
i) Subscription outstanding as at 31st march 2021 ₹6,000
ii) Subscription ₹1,000 is still in arrears for the year 2019-20
iii) Value of stationery on 1st April 2020 was ₹20,000 and on 31st march 2021 was
₹30,000
iv) 6% interest has accrued on investment for 3 months
v) Salaries ₹ 1,500 is related to next year
vi) Municipal taxes of ₹12,000 pe year paid up to 30th June & municipal taxes prepaid
at the beginning of year ₹3,000