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Solution :
In the Books of Bahurao Patil Polytechnic College, Nagpur.
Income and Expenditure Account
for the year ended 31 March 2019
st
Dr. Cr.
Expenditure Amount Amount Income Amount Amount
` ` ` `
To Salaries to teaching 15,00,000 By Interest 60,000
staff By Donations 7,00,000
To Salaries to office 8,55,000 Less : 60 % for Building 4,20,000 2,80,000
staff By Tution fees 15,00,000
Add : Outstanding 70,000 9,25,000 By Admission fees 65,000
To Printing & Stationery 27,000 By Term fees 4,00,000
To Pastage 7,000 By Drama Receipts 1,00,000
To Telephone charges 6,000 Less : Expenses 90,000 10,000
To Electricity 61,000 By Rent from Hall 6,000
To Magazines & 6,000 By Deficit 4,15,000
News Papers (Excess of Expenditure
To Depr. on over Income)
Books 1,00,000
Furniture 1,04,000 2,04,000
27,36,000 27,36,000
Balance Sheet as on 31 March 2019
st
Liabilities Amount Amount Assets Amount Amount
` ` ` `
Capital Fund 6,11,000 Books 9,00,000
Add : Legacies 60,000 Add : Purchases 88,000
6.71,000 9,88,000
Less : Deficit 4,15,000 2,56,000 Less : 10 % Depreciation 1,00,000 8,88,000
Building Fund 8,27,000 Furniture 3,26,000
Add : Donations 4,20,000 12,47,000 Add : Purchases 78,000
O/s Salaries to office 70,000 4,04,000
staff Less : Depreciation 1,04,000 3,00,000
Cash in Hand 62,000
Cash at Bank 3,23,000
15,73,000 15,73,000
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