Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 10.00

Receipts and Payments Account

Prepare Income and Expenditure Account for the year ending on Mar 31, 2009 and Balance Sheet on that date from the following:

Receipts and Payments Account for the Year Ending on Mar 31, 2009

Dr.

      

Cr.

Receipts

  

Rs

Payments

Rs

To Balance b/d

  

1,000

By Rent

9,000

Cash

  

6,000

By Miscellaneous Expenses

27,500

Bank

  

200

By Postage Expenses

1,000

Stamps

    

By Furniture

7,000

Rs

    

By Creditors for Sports Materials

13,000

To Subscriptions

Rs

  

By Cost of Prizes (to be awarded)

3,000

2007-2008

4,000

  

By Cash Purchase of Sports materials

4,500

2008-2009

70,000

  

By Match Expenses

6,000

2009-2010

3,000

77,000

By Balance c/d

  

To Entrance Fees

  

10,000

Cash

500

To General Donations

  

5,000

Bank

36,900

To Donations for Prize Fund

  

3,500

Stamps

100

To Sale of Old Sports Materials

  

4,300

    

To Interest on Prize Fund

  

1,000

    

Investments

        

To Miscellaneous Receipts

  

500

    
   

1,08,500

  

1,08,500

Information

Particulars

Apr 1, 2008

Mar 31, 2009
 

Rs

Rs

Sports Materials

5,000

6,000

Furniture

70,000

–

10% Prize Fund Investments (face value Rs 20,000)

19,000

–

Creditors for Sports Materials

1,500

3,000

Subscriptions in arrears

5,000

–

Subscription in advance

2,000

–

Prize fund

20,000

–

Rent paid in advance

–

1,500

Outstanding Rent

1,500

–

Outstanding Miscellaneous Expenses

2,500

4,500

Miscellaneous Expenses paid in Advance

1,000

2,000

Additional Information

  1. There are 800 members, each paying an annual subscription of Rs 100.
  2. 50% of Entrance Fees is to be capitalised.
  3. Book value of Sports materials sold was Rs 4,000.
  4. Depreciation on Furniture is to be provided @ 10%.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 11:09 PM My Price 10.00

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