Important Questions

CBSE Guess > Papers > Important Questions > Class XII > 2010 > Accountancy > Accountancy By Rahul Kadd

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
  1. 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.
  2. On the 31st December, 2007 Salaries outstanding amounted to Rs.1,000. Salaries paid in 2007 included Rs.3,000 for the year 2006.
  3. 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