please ssolve these ques 0f ts grewal

page n0 19.64 ques 39,40

and page no. 19.65 ques 41 and ques 45

Books of Madura Club 

Income and Expenditure Account 

for the year ended December 31, 2009 

Dr.

Cr.

Expenditure 

Amount

((Rs))

Income 

Amount

(Rs)

Salaries

1,245

Subscriptions  (450 members × Rs 3)

1,350

Stationery

240

Profit from Canteen

900

Add: Opening Stock

30

Miscellaneous Receipts 

45

Less: Closing Stock

(54)

216

Sale of Old Newspapers

112

Rates and Taxes

360

Dividends

485

Telephone

60

Advertisements

105

Postage

100

Sundries

350

Depreciation on Building 

300

Surplus (Balancing Figure)

156

2,892

2,892

Balance Sheet

for the year ended December 31, 2008 

Liabilities 

Amount

((Rs))

Assets

Amount

((Rs))

Capital Fund (Balancing Figure)

6,657

Subscriptions Outstanding

27

Stationery

30

Building

6,000

Cash and Bank

600

6,657

6,657

Balance Sheet

as on December 31, 2009 

Liabilities 

Amount

((Rs))

Assets

Amount

((Rs))

Advance Subscriptions

48

Subscriptions Outstanding

Capital Fund

6,657

For 2009 (1,350 –1,266)

84

Add: Surplus

156

6,813

For 2008 (27–24)

3

87

Building

6,000

Less: 5% Depreciation

(300)

5,700

Stock of Stationery

54

Investments

750

Cash and Bank

270

6,861

6,861

Income and Expenditure Account 

for the year ended December 31, 2009 

Dr.

Cr.

Expenditure

Amount

((Rs))

Income

Amount

((Rs))

Salaries

1,200

Subscription (50 members × Rs 25 each)

1,250

Add: Outstanding for 2009

100

Rent Received from the Use of Hall

740

Less: Outstanding for 2008

(100)

1,200

Profit from Entertainment

400

General Expenses

300

Sale of Newspapers

100

Electricity Charges 

200

Newspapers

400

Postage

50

Loss on Sale of Furniture (100 -60)

40

Surplus (Balancing Figure)

300

2,490

2,490

Balance Sheet

as on December 31, 2008 

Liabilities 

Amount

 (Rs)

Assets

Amount

(Rs)

Salaries Outstanding

100

Subscriptions Outstanding

300

Capital Fund (Balancing Figure)

11,550

Land and Building

10,000

Furniture

600

Books

500

Cash and Bank

250

11,650

11,650

Balance Sheet

for the year ended December 31, 2009 

Liabilities 

Amount

 (Rs)

Assets

Amount

(Rs)

Salaries Outstanding

100

Subscription Outstanding:

Advance Subscription

200

For 2009 (1,250 - 1,000)

250

Capital Fund

11,550

For 2008 (300 - 250)

50

300

Add: Surplus

300

11,850

Land and Building

10,000

Furniture

600

Add: Purchases

250

850

Less: Book Value of Sold Furniture

(100)

750

Books

500

Add: Purchases

100

600

Cash and Bank

500

12,150

12,150

Income and Expenditure Account 

for the year ended March 31, 2012 

Dr.

Cr.

Expenditure

Amount

 (Rs)

Income

Amount

 (Rs)

Loss on Sale of Sports Material

(1,000 -600)

400

Subscription

18,100

Wages and Salaries

6,000

Add: Subscriptions Outstanding for 2011-12

550

Add: Outstanding in 2011-12

600

Less: Subscription Outstanding for 2010-11

(800)

Less: Outstanding in 2010-11

(1,100)

5,500

Add: Advance received for 2010-11

600

Stationery

1,500

Less: Advance Received for 2011-12

(400)

18,050

Audit Fee

200

Sale of Old Materials

150

Expenses on Teams

6,500

Entrance Fees

200

Depreciation on Billiards Tables

(6,000 × 10%)

600

Interest accrued on Investments  (4,000 × 5% × 6/12)

100

Consumption of Sports Equipments

(5,000 + 2000 – 1,000 – 4,500)

1,500

Upkeepof Grounds

1,000

Surplus (Balancing Figure)

1,300

18,500

18,500

Balance Sheet

as on March 31, 2012

Liabilities 

Amount

(Rs)

Assets

Amount

 (Rs)

Capital Fund

20,000

Subscriptions Outstanding

550

Add: Surplus

1,300

Sports Equipment

5,000

Add: Life Membership Fees

5,000

26,300

Add: Purchases

2,000

Tournament Fund 

6,000

Less: Book Value of Sold Equipments

(1,000)

Add: Donations

2,000

8,000

6,000

Salaries Unpaid

600

Less: Consumption

(1,500)

4,500

Subscriptions in Advance

400

Grounds

12,000

Billiards Tables 

6,000

Less: 10% Depreciation

(600)

5,400

Cash and Bank Balances

8,750

Investments

4,000

Add: Accrued interest

100

4,100

35,300

35,300

Books of Delhi Cricket Club

Income and Expenditure account

for the year ended March 31, 2012

Dr.

Cr.

Expenditure

Amount

(Rs)

Income

Amount

(Rs)

Upkeep of Fields

2,000

Members’ Subscriptions

5,000

Rates and Insurance

200

Add: Outstanding for 2011-12

750

Telephone

50

Less: Outstanding for 2010-11

(500)

5,250

Printing and stationery Consumed

75

Admission Fee

300

General Charges

50

Sale of Old Bats, etc.

50

Secretary’s Honorarium

200

Hire of Ground

300

Depreciation on Bats, Balls, etc. (2,200 × 50%)

1,100

Surplus (Balancing Figure)

2,225

5,900

5,900

Balance Sheet

as on March 31, 2011

Liabilities

Amount

(Rs)

Assets

Amount

(Rs)

Capital Fund (Balancing Figure)

5,200

Stock of Bats and Balls

1,500

Printing and Stationery

200

Subscriptions Outstanding

500

Cash at Bank

3,000

5,200

5,200

Balance Sheet

as on March 31,2012

Liabilities

Amount

(Rs)

Assets

Amount

(Rs)

Subscription for Tournament

1,000

Subscriptions Outstanding

750

Less: Tournament Expenses

(700)

300

Bats and Balls

1,500

Capital Fund

5,200

Add: Purchases

700

Add: Donations

10,000

2,200

Add: Surplus

2,225

17,425

Less: 50% Written-off

(1,100)

1,100

Printing and Stationery

200

Add: Purchases

100

300

Less: 25% Written-off

(75)

225

Bank

16,650

Less: Overdraft

(1,000)

15,650

17,725

17,725