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5.   Sale of old Assets :
                 When any asset became obsolete or useless for the concern, it is sold out. Amount relaised on it
                 in a Capital Receipt. The Book value of sale of such asset is deducted from the concerned asset.
                 The difference between the Book Value and Realised value is either Profit on Loss on sale of
                 Asset. It there is a Profit it should be shown to income side of Income and Expenditure Account.
                 If there is a loss it should be shown on Expenditure side of Income and Expenditure Account.
            6.   Sale of Scrap, News papers etc. Scrap of old materials is sold in the market. It is treated as
                 recurring income. Therefore, It is credited to Income side of Income and Expenditure Account.
                 Sale of old News Papers is a miscellaneous income. It is credited on Income side of Income and
                 Expenditure Account.
                 7)    Specific Donations (please refer point No. 8)
                 8)    General Donations (please refer point No. 8)
                 9)    Specific Funds (please refer point No. 8)
                 10)  Endowment Fund

                 It is a fund created out of specific amount embarked, gifted or donated. The Income of
                 this fund is a specific Income. It shows on the liability side of the Balancesheet.


                                                      Illustrations

            1 :  Treatment of Stationery
                                                     Balance Sheet
                                                 as on 31  March 2017
                                                          st
                     Liabilities         Amount Amount                  Assets            Amount Amount
                                             `         `                                     `         `
                                                             Stock of Stationery                      800

                                            Receipts and Payments Account
                                                                st
                                           for the year ended 31  March 2018
            Dr.                                                                                           Cr.
                      Receipts           Amount Amount                Payments            Amount Amount
                                             `         `                                     `         `
                                                             By Stationery Purchased                 7,000

            Adjustments :
            1)   ` 1,500 is Outstanding for Stationery Bill.
            2)   Stock of Stationery on 31  March 2018 was ` 1,300.
                                          st
                 With the help of above information calculate the amount of stationery cosumed during the year.

                                             Particulars                                     Amount `
             Stock of stationery as on 1-4-2017                                                     800
             Add : Purchased during the year                                                      7,000
             Add : Outstand bill                                                                  1,500
                                                                                                  9,300
             Less : Closing Stock (31-3-2018)                                                     1,300
             Stationery consumed during the year                                                  8,000

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