Q14. How much amount will be recorded in 'Receipts and Payments Account' for the year ending 31st March 2017 if subscription received during the year 2016-17 were:
for 2015-16 Rs 10,000, for 2016-17 Rs 2,20,000 and for 2017-18 Rs 3,000.
Subscription outstanding for 2016-17 was Rs 5000.
Q15. How much amount will be recorded in 'Income and Expenditure Account' for the year ending 31st March 2017 if subscription received during the year 2016-17 were:
for 2015-16 Rs 10,000, for 2016-17 Rs 2,20,000 and for 2017-18 Rs 3,000.
Subscription outstanding for 2016-17 was Rs 5000.
Q16. New Delhi Sports Club pays salary of Rs 20,000 per month. How much amount will be recorded in Income and Expenditure Account for the year ended 31st March, 2017 if on this date outstanding salary amounted to Rs 5,000 and prepaid salary is Rs 10,000.
Dear Student
Q.14
Q.15
Q.16
Regards
Q.14
| Calculation of amounts to be shown in Receipt and Payment A/c for the year ended 31.03.2017 | |
| Particulars | Amt |
| Subscription Received during the year for 15-16 | 10,000 |
| Subscription Received during the year for 16-17 | 220,000 |
| Subscription Received during the year for 17-18 | 3,000 |
| Subscriptions to be shown in Receipt and Payment A/c | 233,000 |
Q.15
| Calculation of amounts to be shown in Income and Expenditure A/c for the year ended 31.03.2017 | |
| Particulars | Amt |
| Subscription Received during the year for 16-17 | 220,000 |
| Add : Subscription for 16-17 Outstanding at the end | 5,000 |
| Subscriptions to be shown in Income and Expenditure A/c | 225,000 |
Q.16
| Calculation of amounts to be shown in Income and Expenditure A/c for the year ended 31.03.2017 | |
| Particulars | Amt |
| Total Salary paid during the Year | 240,000 |
| Add : Out Standing Salary at 31-03-17 | 5,000 |
| Less : Prepaid Salary at 31-03-17 | 10,000 |
| Salary to be shown in Income and Expenditure A/c | 235,000 |
Regards