Page 93 - VIRANSH COACHING CLASSES

Additional Information :
1) Receipts in Arrears are Visit Fees ` 2,000 and Dispensary ` 500
2) Outstanding Expenses - Rent ` 500 and Salaries ` 1,000
3) Stock of drugs was ` 1,000
4) Depreciate Furniture @ 8 % p.a. and Equipments ` 500.
Solution :
In the books of Dr. Abhinav Bharat.
Income and Expenditure Account
for the year ended 31 March 2020
st
Dr. Cr.

Expenditure Amount Amount Income Amount Amount
` ` ` `
To Drugs 7,000 By Visit fees 10,000

Less : Stock & Drugs 1,000 6,000 Add : Outstanding 2,000 12,000
To Salaries 12,000 Visit Fee
Add : O/s Salary 1,000 13,000 By Receipts for 30,000

To Rent 6,000 Dispensary
Add : O/s Rent 500 6,500 Add : Outstanding 500 30,500
To Conveyance 4,000 By Sundry Receipts 5,000

Less : 40 % Domestic 1,600 2,400
To Stationery 500

To Electrical Charges 5000
To Journals 500
To Deperaciation on
Furniture 640
Equipments 500 1,140
To Surplus 12,460
(Excess of Income

over expenditure)
47,500 47,500

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