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CBSE CLASS XII
Q. 4. From the following, find out the amount of subscriptions to be included in the Income and Expenditure Account for the year ended 31st March 2008. Subscriptions were received during the year 2007-08 as follows:
| For the year 2006-07 | Rs.2,000 |
| For the year 2007-08 | Rs.30,000 |
| For the year 2008-09 | Rs.3,000 |
Subscriptions outstanding as on 31st March 2007 were Rs.3,500 out of which Rs.500 were considered to be irrecoverable. On the same date, subscriptions received in advance for 2007-08 were Rs.2,000. Subscriptions still outstanding as on 31st March, 2008 amounted to Rs.6,000.
Q. 5. on the basis of the following information, calculate the amount that will appear against the item, Stationery Account, in the Income and Expenditure Account for the year ended 31st March, 2007.
| Rs. | |
| Stock of stationery on April 1,2006 | 3,000 |
| Creditors for stationery on April 1,2006 | 2,000 |
| Amount paid for stationery during 2006-07 | 10,800 |
| Stock of stationery on 31st March,2007 | 500 |
| Creditors for stationery on 31st March,2007 | 1,300 |
Note: Also show the above items in the Income and Expenditure Account for the year anded March 31, 2007 and in the balance Sheet as on that date.
Q. 6. From the following Receipts and payments Account of Defence Club,____ from the information supplied, prepare the Income and Expenditure account for the year ended December 31st,2007 and the Balance Sheet as on December 31, 2007.
RECEIPTS AND PAYMENTS ACCOUNT
for the year ended 31ST December, 2007
| Receipts | Rs. | Payments | Rs. | |
| To balance as on January 1,2007 | 3,500 | By Salaries | 14,000 | |
| To Subscriptions: | By General Expenses | 3,000 | ||
| 2006 | 2,500 | By Electricity Charges | 2,000 | |
| 2007 | 10,000 | By Books | 5,000 | |
| 2008 | 2,000 | 14,500 | By Newspapers | 4,000 |
| To Rent Received from the use of Hall | 7,000 | By Balance(as on December 31, 2007) | 2,000 | |
| To _____ from Entertainment | 4,000 | |||
| To sale of old Newspapers | 1,000 | |||
| 30,000 | 30,000 | |||
- The club has 50 members each paying an annual subscription of Rs.250. Subscriptions Outstanding on 31st December, 2006 were to value of Rs.3,000.
- On the 31st December, 2007 Salaries outstanding amounted to Rs.1,000. Salaries paid in 2007 included Rs.3,000 for the year 2006.
- On January 1,2007 the club owned buildings valued at Rs.1,00,000, Furniture worth Rs.10,000 and Books Rs.10,000.
Paper By Mr. Rahul Kadd
Email Id : [email protected]
Phone No. : 9212197510
Oscar Academy- BN - 4 (East),
Shalimar Bagh, Delhi-88
