The Total solution for NCERT class 6-12
Receipt and Payment Account
for the year ending March 31, 2016
Receipts
Amount
(Rs)
Payments
Opening cash balance
12,000
Furniture
4,000
Subscription
Telephone expenses
800
2014-15
2,000
Salary
2015-16
22,000
24,000
1,000
Entrance fees
2,800
Locker rent
Newspapers
700
Life membership fee
1,200
Sundry expenses
Government grant
11,000
Defence bonds
18,000
Land
20,000
Closing cash balance
2,500
52,000
Balance Sheet
Liabilities
Assets
Advance locker rent
200
Cash in hand
Subscription received in Advance
Outstanding subscription
3,000
Outstanding salary
Building
35,000
Loan
10,000
Capital fund
36,800
50,000
Books of Culture Club
Income and Expenditure Account
as on March 31, 2016
Dr.
Cr.
Expenditure
Rs
Income
Telephone Expenses
Add: Advance Received in 2015
23,000
Sundry Expenses
Entrance Fees
Locker Rent
Surplus (Balancing figure)
31,500
Government Grants
38,000
Capital Fund
Subscription Still Outstanding for 2015
Add: Life Membership Fees
(Rs 3,000 – Rs 2,000)
Add: Surplus
69,500
Defence Bonds
Salary Still Outstanding for 2015
Cash in Hand
80,500