The Total solution for NCERT class 6-12
Receipt and Payment Account
for the year ending December 31, 2017
Receipts
Amount
Rs
Payments
Balance b/d
7,250
Salary
12,500
Subscriptions
81,750
Stationery
1,700
Donations
3,000
Electricity charges
9,550
Grant from Government
15,000
Insurance
7,500
Sale of newspapers
300
Equipments
30,000
Proceeds of charity show
16,500
Petty expenses
500
Interest on investments @ 10% for full year
7,000
Expenses on charity show
12,900
Sundries income
400
Newspapers
1,000
Lectures fee
Honorarium to Secretary
12,000
Balance c/d
27,050
1,31,200
Additional Information:
01.01.2017
31.12.2017
Outstanding salaries
1,200
1,800
Insurance prepaid
700
Subscription outstanding
3,750
2,500
Subscription received in advanced
1,750
Electricity charges outstanding
—
1,250
Stock of stationery
2,250
25,600
50,200
Building
1,20,000
1,14,000
Books of Women Welfare Club
Income and Expenditure Account
as on December 31, 2017
Dr.
Cr.
Expenditure
Income
Add: O/s on Dec. 31, 2017
14,300
84,250
Less: O/s on Dec. 31, 2016
(1,200)
13,100
(3,750)
80,500
Add: Advance on Dec. 31, 2016
Add: Opening Stock
82,250
3,950
Less: Advance on Dec.31, 2017
(1,000)
81,250
Less: Closing Stock
(700)
3,250
Electric Charges
10,800
Sale of Newspapers
Profit from Charity show (16,500–12,900)
3,600
Interest on Investments
Add: Prepaid in 2016
Sundries Income
8,200
Less: Prepaid in 2017
(300)
7,900
Depreciation on Equipments
5,400
Petty Expenses
Lectures Fee
Depreciation on Building
6,000
Surplus (Balancing Figure)
34,100
1,10,550
Balance Sheet
as on December 31, 2016
Liabilities
Assets
Outstanding Salaries
Insurance Prepaid
Subscription in Advance
Subscription Outstanding
Stock of Stationery
Capital Fund (Balancing Figure)
2,26,600
Cash and Bank
Investments {7,000 × (100/10)}
70,000
2,29,550
Add: Purchases
Electricity Charges Outstanding
55,600
Capital Fund
Less: Depreciation
(5,400)
Add: Surplus
2,60,700
(6,000)
Investments
2,64,750