CBSE Guess > Papers > Important Questions > Class XII > 2010 > Accountancy > Accountancy By Mrs. Meena
CBSE CLASS XII
Q.1. During the year 2007 a club received Rs. 1, 00,000 as entrance fees. According to accounting policy for the club 40% of the entrance fees is to be capitalized. How will you deal with entrance fees received by NPO?
Q.2. What is meant by Fund Based Accounting?
Q.3. How would you calculate the amount of consumable materials?
Q.4. Difference between receipt and payment account and trial balance?
Q.5. Following are the brief particulars of cash transactions of Geeta Pustakalaya Allahabad for the year ended 31st December 2002.
| Receipts | Rs | Payments | Rs |
To balance b/f |
1319 | By rent and rates |
168 |
To entrance fees |
255 | By wages |
245 |
To subscriptions |
1600 | By lighting |
72 |
To donation |
165 | By lecturers fee |
435 |
To life membership fee |
250 |
By books |
213 |
To interest |
14 | By office expenses |
450 |
To profit on entertainment |
42 | By 3% fixed deposits (1.7.2002) |
800 |
By bank balance |
242 | ||
By cash in hand |
1020 | ||
| 3,645 | 3,645 |
Library has books worth Rs 2,000 and furniture worth Rs 850 in the beginning of year. Outstanding subscription was Rs 35 in the beginning of year and Rs 45 at the end of year. Outstanding rent was Rs 60 in the beginning as well as at the end of year. Charge depreciation Rs 50 on Furniture and Rs 113 on Books. Required: from the above particulars prepare Income and Expenditure Account and Balance Sheet of Pustakalaya as on 31st December 2002.
Q.6. Following is the receipts and payment account of recreation club for the year ended 31st march 2007.
RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 07
| Receipts | Amount (Rs.) | Payments | Amount (Rs.) |
| To cash in hand | 8320 |
By rent of hall |
3640 |
| To subscription | 26000 |
By salaries |
5200 |
| To entrance fees | 3900 |
By purchase of sports equipments |
16640 |
| To sale of refreshments | 9880 |
By dance expenses |
4940 |
| To sale of dance tickets | 5850 |
By supply of refreshment |
6760 |
| To interest on investments @ 7% | 4550 |
By honorarium |
1040 |
By sundry expenses |
3250 |
||
By electricity changes |
1820 |
||
By cash at bank |
15210 |
||
| 58,500 | 58,500 |
Following additional information's are also provided to you :
- Following were the assets and liabilities on 31st March, 2006 :
Sports equipment Rs. 6,760, subscription in arrears Rs. 1,950, Furniture Rs. 12,480 Liabilities-Accrued rent Rs. 780 and subscription received in advance Rs. 520. - 'Following were the assets and liabilities on 31st March 2007 :
Sports equipments Rs. 19,760, Subscription in arrear Rs. 1,690, Furniture Rs. 11,180, Liabilities-accrued rent Rs. 390, subscription received in advance Rs. 2,340. - Entrance Fees is to be capitalised.
You are required to prepare income and expenditure account for the year ended 31st March, 2007 and balance-sheet as on that date.
Paper By Mrs. Meena
Email Id : [email protected]
Phone No. : 9820257260
