Maurice Tutor

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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 25 Sep 2017 My Price 10.00

People’s Education Society

From the following Trial Balance of the People’s Education Society as at Mar 31, 2009, prepare an Income and Expenditure Account for the year ending at Mar 31, 2009 and a Balance Sheet on that date:

Particulars

Rs

Particulars

Rs

Buildings

1,90,000

Scholarship fund investment

50,000

Furniture and Fixtures

52,500

Capital Fund

4,60,000

Additions to Furniture and Fixtures

10,000

Donations received towards

  
   

Capital Fund

42,500

Vehicles

40,000

Entrance Fees

10,000

Additions to Vehicles

10,000

Course Fees

2,40,000

Sundry Debtors

8,000

Examination Fees

15,000

Sundry Creditors

5,000

Ruts received from letting

  
   

of auditorium

47,500

Investments

2,50,000

Salaries

2,20,000

Interest received on Investments

30,000

Printing and Stationery

30,000

Interest received on Scholarship

6,000

Scholarships awarded

5,000

Fund Investment

      

Other Expenses

50,000

Scholarship Fund resave

44,000

Cash at Bank

4,500

Government Grant received

20,000

Additional Information

  1. Depreciation is to be provided at 5% on buildings, 10% on furniture and fixtures and 90% on vehicles.
  2. Additional rent received in advance amounts to Rs 7,500 while there is an amount of Rs 10,000 outstanding under this head.
  3. One month’s salary is outstanding.

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 09:09 PM My Price 10.00

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