oe re's Finanelal Accounting (7.¥ B.C.A.F) (Sem —VD (Paper-Vyy Y) Transfer to Reserve Fund vi) Interest on Painting Fund Investment. vii) Transfer fees received Viii) Premium on transfer from members. ix) Pire extinguisher [Ans, : Refer page 6 of the book] 2. Prepare Proforma Balance sheet of a cooperative Housing Society with imaginary information. [Ans. : Refer page 6 of the book] 3. Prepare proforma Income and expenditure A/e of a Cooperative Housing Society with imaginary information, [Ans. : Refer to page 9 of the book] o 4, Net profit earned by a coop. Hsg, Soceity is & 3,75,000 cost of construction of flats 80,00,000. Taking into account the above information calculate, i) How much should be transfer to Reserve Fund? ii) How much should be carried to Balance sheet? iii) How much should be transfer to Repairs fund? . “ ea iv) How much should be transfer to sinking fund? fa v) How much Honorarium can be paid to office bearers? [Ans.: i) 25% of 3,75,000 = 93,750 ii) 75% of 3,75,000 = 2,81,250 iii) .75% of 80,00,000 = 60,000 iv) .25% of 80,00,000 = 20,000 vy), 15% of % 3,75,000 = %56,250 or % 2,000 or 2,000 whichever is less Whichever is less % 2,000 is less] 5. Following Trial Balance is taken from the Books of Ashokvihar Co. Op. Hsg. Society Ltd., Mumbai. Ashokvihar Co. Op. Hsg. Society Ltd., Mumbai Trial Balance - as on 31° March, 2018 z x Cash Kw &paink 973.05 || Members’ Contribution for. 5,04,000.00 Bank 11,253.00 Maintenance >~¢°"" © 390.00 Debtors. 38,95,179.00 || Interest on Bank A/c™* © ** + 4,90,044.00 Prepaid Insurance © *+ ©" |! es 7,746.00 || Interest from Members © 1,500.00 Prepaid Subscription to Hsg. Share Capital $s - | 3.578 Hd Capital =) ott from Members ® ® Advil 50'9a9'C0|| Bank Interest “ « o-—¢ 50.00 pe cour ernerne 77581 | | Entrance Fees (42 #28 *“ "4 ' | 200,00 caeh 91.00) | interest Received from 311 members * ‘2 # | 3,256.00 pal nt to Members 84 00|| Members’ Contribution for pis icity Charges 24,650.00 Maintenance % » ¢ « « |1,42,006.50 petyening Charges 3150.00 | Miscellaneous Income ~ ¢ | 2,774.00 Gar yrance 8'508.00) | Peetipt from Builders | jos\yaintenance 13;500.00 Towards Expenses = « «© "© 13,600.00 iift Mig & Stationery 11.795. 09) | Transfer Charges Zang *urmeh > ¢4°-41,000.00 pein irs & Maintenance i/3e 00) | Transfer Premium ge “=~ 4 | 32,150.00 rity Charges at exe Audit Fees 4... 4+ ae /s\e| &-A$866.00 uper Salary (oeeie Professional Charges c/a @** | 3,000.00 4 19,684.05 Income & Expenditure A/c o/- ©/@| 90,002.90 Wer Charges vit fees onal Charges aca ‘Adjustments 1. Expenses payable for the year t : Security Charges % 4,999 14° Provided : ‘Sweeper Charges % 999 Water Charges % 7,725 2, Transfer 25% of Net Profit to Reserve Fund, 3, Depreciate Furniture by 10%, (.) s:vet poo 4, Provide for contributions to Educat prepare Income & Expenditure A/c foy date. ‘Ans. : NP. & 6,303 = 50, B/S Total a —* 1250. RF 33,350, [and E A/e% 3630640 = 40, Cash & 38,649.40, Fa % 4,158, share capital & Following Trial Balance is extracted from the ledger of Vaishali Co. Op. Hsg. Society. d Cunwena ti onde a¢e1a. ce Gvow” a Pesers, Exe tion Fund & 150. Exe , Curvens \{ abjrvinags ’ r the year ended 31st March, 2018 and Balance sheet as on that Trial Balance 88 on 31* March, 2018 z z icity Charges ges ne 3,620.00 || Members’ Contribution : rs ee a Pee: 4,210.00 || for Maintenance 11,889.30 pecurity a i ~ | 8,000.00 || Miscellanies Receipts 203.00 secPer 8 yi 1,700.00 || Loan 2350.00 ter Charge 4,693.00 i a ee crabers 7 127993.09 || Income & Expenditure A/c 49,729.60 cash 2 cosh 2 O°" 285.00 pank 5 28,739.00 4 04,171.90 64,171.90 ‘Additional Information provide for : a) Security Charges payable & 4,000 b) Water Charges payable % 2,213 “ ¢) Sweeper Charges Payable & 950 d) Audit fees payable = 933 CHD, Convent Salt sete136 e) Prepare Income & Expendl “py Eu tet March, 2018 200 Balance sheer gy on 29,024, Debtors ® 12,924.90, Loan % 2,350, CL F 9,596, rg . EA, ¢ ; ple € 1,500 Professional Charges Pon ive for the year exted date [Ans. . % 30,002.90, B/s Total © 41,948.90] ‘i ixas Co. Op: Hs8- Society Ltd. 8. Following Trial Balance is t™k¢r, lays one of Neaiaty tee ms pee er jtonwibaton SC EE aa Gash end Bank “cae T “7,62.046 0% Capit cmbers Trrerae Paes Gunton [+333 080 60 || romanian Buisness mn Sore esdnge “0 49,866.00 sinking j= 83,396. Zwveter Pump 14,068.00 | Repairs & Maint Fund” 7 30/808, 7 Garbage Trolley | oi 5 Repay Rent Fund Grund | 788.046 0) at A | 2, ‘ a 69,1 eee os we cl Paste OS et 40,829 Sinking Fund | 63,950.00 | Creditors as co ae 1,084 9 Reserve Fund | 50,394.00 Ae Expenditure ¢ : fas 33,416.06 Repairs Fund | 1,59,084.00 Ine eeountt mg A Repairs Fund 31,408.08 cc pution from Members : $.25,817.02 94 Other Investments “ 9,810.00 | | core tax ‘ Deposits pu k + ; 1960.00 | | Propery artes 6 3,65,520.09 oo Insurance uae 91,660:0" Lin Maint / 9:07 ,200.09 aid B ttre 480. - sh ha 7 Debtordi gs eG eer o7segot | eaten. Seah “4704008 Electricity Charges 3,40,520.00 Insurance 42,240.09 Building Repairs \ | 1,28,994.00 Well Water \ 21,120.09 Rent, Rates, Taxes | 3/56,454.00 || Banke Interest, ore 17,636.09 Water Charges | 3,07,200.00 Interest from aul wo 8,94,920 09 Salary | 32,500.00 | | Donation for Annual Meet ) 13,824.09 Printing & Stationery 23,509.00 | | Other Income 9,556.00 Conveyance { 1,346.00 Electrical Repairs | 12,254.00 Postage 5,282.00 Education Fund ; ‘480.00 Subscription to Hsg. | Federation 600.00 Sundry Expenses 1,900.00 Security Charges \ 2,54,458.00 Lift Maintenance '96701.00 Fire Insurance \ 41,524.00 Accounting Charges 36,000.00 Structural Audit } 33,708.00 Audit Fees 6,354.00 Meeting Expenses \ 10,490.00 Bank Charges \ 950.00 Legal Charges 3 2,28,104.00 Cultural Program Expenses 7,768.00 ‘Adjustments cH, EXC Pe Ans. : N.P. & 2,92,262, B/S Tot Provide depreciation on Furniture at 10% Fire Extinguishers at 15% Water Pump at 15% Garbage Trolley at 15% Water tank at 15% Transfer 25% of the profit to Reserve Fund. Ale for the y' Prepare Income and expenditure tal & 5,62,65,781 = ene: fis .d Balance sheet as on that date ear ended 3 1,3.2016 an 02, Cash & 262,046.02, Capital % 41,600, I&EAK %56,18,079.02]gecourts of Co-operative Society (Co-op. Housing Sock ss ieties) ee e of Hill Vi FT peas Balen ill View Co. Op. Hg. Society, Mumbai ae 237 Hill Vi 2. lew Co. Op, ‘Trial Balance as ne Seciety, Mumbat | z March, 2018 ee paiance 4 cath Beng | 7,170,482 z pee OS beh (site ore ieure 12,00 Members por’ xtinguishers 7 171000 || Property Tax > pire bump (sa 1000 | | Water sao ba Ch Wwate® fo trolley | 19,000 || Lift Maintenan Toa weno TN sabe Maintenance | o€ “ne + 80,000 wate ea E 7,000 pees: aoe oe 2,800 si inkin jn¥ cinking Fund oe Sinki ae sinking Fund 7 garnet, 5,200 || Sane Fund { xara 25,000 eee Fund ape fa ee 30,000 etwith Reliance Tet: 1,4,j900 || wuss Reed Members 22° 24/000 peP-om Members ~ 19°000 || share Capital 2 eee 2,24.0%8 uct icity Charges 25,000 || Sinking Fund 7 a 15000 Bier Rates | 30,400 || Reserve Fund ¢ "4° TO ae Sarees 1 25:100 || Repairs Fund 1 2000 58, i a stg & sence excensts’ 511000 Income & Expenditure A/e 0/+ £%°. 2:24.00 ti ? 22,000 conveyer | 1,100 postage 4, gud ,000 | gun charges 1,800 | Pit Maintenance | ous oo) fire Insurance | pee seounting Charges Soom Audit Fees 77.000 || x Charges ag Bani wee gpk | 15.86,800 || 15,86,800 ‘Adjustments a 1, Insurance paid in advance ¥ 4,500. 2. Provide for: f Stationery %500 Telephone 71,200 Salary 73,500 3, Education Fund Payable € 300. 4, Depreciate : Fumiture 10% Water Pump 15% Fire Extinguisher 15% Garbage Trolley 15% Water Tank 15% 5, Accrued interest on : z Sinking Fund Investment 2,200 Repairs Fund Investment 2,000 Reserve Fund Investment 12,200 1 March, 2018 and Balance sheet as on that e Alc for the year ended 3 Prepare Income & Expenditur 7,12,000, FA 51,600, RF 34,000, date. [Ans. : N.P. € 3,35,200, B/S Total @1 1,25,900, Cash Repairs Fund % 1,90,000, C.L: 5,200, 1 BEAR 5,59,200] al Balance is extracted from the ledger of Lokbharti Co. Op. Hsg. Society: 5 ‘Trial Balance as on 31* March, 2018 Se SF & 1,87,200, 10. Following Tri Computer 35,400 || Share Capital Cupboard 5,400 || Entrance Fees Steel Table 6,000 || Sinking Fund 10/T.Y.B.C.AF- Vil) (Sem.-VD)sonemnsinntnet ei eas acca Provide for Accounting fees % 6,000 and audit fees € 7,736. ation : Cupboard 10% Steel Table 10% Computer 15% Telephone bill of March 2014 pending % 400. dene sand iveted © 2,00,00 was ct rants. ia Pre metest charged to members on their dues € 47.279 ist be adjusted. Prepare Income & Expenditure A/c for the year ended 31% March, 201 Balance shoes date, 3. 4 (Awe 40s. FAR3 (Ams. : NP. % 9,36,859, B/S Total % 10,60,703, Cash & 421, Bank 5,76/ 5550, Ree 1&E Ave 531,167] ~ Following Trial Balance of Ashok Avenue Co. Op. Hse. Society Ltd. Bank Balance with Mec Bank 7,74,300 || Contribution from Member srt 600 | | Property tax 12,000 || Water Charges wa 17,060 || Lift Maintenance — 19,000 | | Service Charges Garbage Trolly 5,000 | | Insurance *Water Tank... 7,000 || Sinking Fund Advance to contractor for repairs 40,000 || Repairs Fund Investment - ‘i Interest on Bank A/ceo nts of Co-operative Society (Co-op. Housing Societies) a fi e ents Ader vide for depreciation 1. urniture 10% Fire, Extinguisher 15% Garbage Trolly 15% Water Pump 15% water Tank 15% Interest accrued on 2. inking Fund Investment 2,600 Repairs Fund Investment % 2,000 Reserve Fund Investment = 1,000 3. Expenses payable "Telephone Charges 1,140 salary % 5,600 printing Charges 1,000 4, Insurance paid in advance % 5,000 5, Education Fund payable 300 & Repairs fund investment of € 40,000 encashed and paid as an advance 10 the contractor for repairs work. The repairs work was completed but necessary adjustment was not carried out. prepare Income & Expenditure A/e for the year ended 31st March, 2018 and Balance sheet 4° on that date. ‘Ans. : N-P. © 2,96,060, B/S Total ¥ 10,78,500, Cash / Bank & 7,74,900, FA 51,600, SF & 1,87,600, Repairs Fund 1,90,000, Reserve Fund % 22,800, I & E A/c 5,20,060] yy, Following Trial Balance is taken from the books of Sagar Darshan. Sagar Darshan Co. Op Hsg. Society ‘Trial Balance as on 31* March, 2018 ¥ © i Balance with MSC Bank 3,85,241 || Contribution from Cash at Hand 759 Members furniture 6,000 | | Property Tax 18,000 Fire Extinguishers 8,500 || Water Charges 85,000 water Pump 9,500 || Life Maintenance 40,000 Garbag Trolly 2,500 | | Service Charges 1,35,000 water Tank 3,500 | | Insurance 11,000 nvestment of Sinking Fund 27,900 || Sinking Fund 12,500 jnvestment of Reserve Fund 20,000 || Repairs Fund 15,000 investment of Repairs Fund 70,800 | | Interest 8,000 Deposit with Reliance 9,500 || Interest from Members 1,12,000 Dues from Members |- 12,500 || Share Capital : (1,500 Shares of ¢ 50 each) 75,000 * Blectricity Charges : . 15,200 || Sinking Fund 80,000 Rent, Rates & Tax 12,550 || Reserve Fund 10,900 Water Charges 79,000 || Repairs Fund 79,000 Salary 25,500 | | Income & Expenditure A/¢ 1,12,000 Printing & Stationery 11,000 Conveyance 550 Postage © 2,000 Sundry Expenses 900 Security Charges 20,900 Lift Maintenance 25,200 Fire Insurance 24,000 Accounting Charges 16,000 Audit Fees 3,500 Bank Charges 2600400 a 293,400 293,400 Adjustments 1. Provide for depreciation Furniture 10% Fire Extinguisher 15%