Page 94 - VIRANSH COACHING CLASSES

Balance Sheet as on 31 March 2020
st
Liabilities Amount Amount Assets Amount Amount
` ` ` `
Capital Fund 25,000 Furniture 8,000
(Cash Introduced) Less : 8 % Depreciation 640 7,360
Add : Surplus 12,460 Equipments 10,000
37,460 Less : Depreciation 5% 500 9,500

Less : Drawings 15,000 Stock of Drugs 1,000
22,460 O/s Visit Fees 2,000
Less : Additional Drawings 1,600 20,860 O/s Receipts form
Dispensary 500
Outstanding Rent 500 Cash in Hand 2,000
Outstanding Salaries 1,000

22,360 22,360

9 : Following is the Receipts and Payments Account of Parnil Sports Club, Pune and
additional information given below you are required to prepare Income and Expenditure
Account.
Account for the year ended 31 March 2019 and a Balance Sheet as on that date.
st
Receipts and Payments Account
for the year ended 31 March 2019
st
Dr. Cr.

Receipts Amount Payments Amount
` `
To Balance b/d 5,000 By Bank Overdraft (repaid) 32,000

To Subscriptions By Salaries 10,000
2016 - 17 2,000 By Electrical Charges 4,000
2017 - 18 3,000 By Municipal Taxes 2,700

2018 - 19 70,000 75,000 By Purchase of Sports Materials 50,000
To Donations 15,000 By General Expenses 500
To Entrance fees 1,700 By Billiard Expenses 3,000
To Life membership fees(Revenue) 17,000 By Repairs to Ground 500

To Tournament Receipts 60,000 BY Tournaments Exp. 50,000
By Balance c/d
Cash in Hand 7,000
Cash at Bank 14,000

1,73,700 1,73,700

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