Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
4.7k views
in Accounting for Not For Profit Organisation by (25.6k points)
closed by

From the following Receipt and payment Account of a club, prepare income and expenditure account for the year ended 31st December 2016 and Balance Sheet as on that date:

Receipt and payment Account for the year ending December 31’s, 2016

Additional Information: 

a) The club has 100 members each paying an annual subscription of Rs.900. Subscriptions outstanding on December 31/8/2015 were Rs. 3,800. 

b) On December 31st, 2016, salary outstanding amounted to Rs. 1,000, salary paid included Rs.1,000 for the year 2015.

c) On January 1,2016 the club owned land and building Rs.25,000, furniture Rs.2600 and books Rs.6,200.

1 Answer

+1 vote
by (27.3k points)
selected by
 
Best answer

Income and expenditure A/c for the year ended 31/12/2016.

Balance sheet as on 1/1/2016

Balance sheet as on 31/12/2016

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

...