Following is the Balance Sheet as on 1.4.2012 and receipts and payments account of Mahakavi Kalidas Library, Nashik.
Solution: In the books of Mahakavi Kalidas Library, Nashik
Income and Expenditure Account for the year ended 31.3.2013
Expenditure
|
Amount
|
Amount
|
Payments
|
Amount
|
Amount
|
To Electricity Charges
|
6980
|
By Members Subscription
|
180000
| ||
To Postage and Telegram
|
6100
|
Add: Outstanding Subscription
|
7500
| ||
To Sundry Expenses
|
10500
|
Less: Pre - received Subscription
|
15000
|
172500
| |
To Depreciation:
|
By Entrance Fees
|
25000
| |||
Furniture
|
8650
|
Less: Capitalised
|
12500
|
12500
| |
Books
|
100000
|
108650
|
By Sale of Old Newspapers
|
1500
| |
By Hire of lecture hall
|
18000
| ||||
By Interest on securities
|
4000
| ||||
To Income Over Expenditure [Surplus]
|
76270
| ||||
208500
|
208500
|
Balance Sheet of Mahakavi Kalidas Library as on 31.3.2013
Liabilities
|
Amount
|
Amount
|
Assets
|
Amount
|
Amount
|
Capital Fund
|
690000
|
Furniture
|
72500
| ||
Add: Entrance Fees
|
12500
|
Add: Purchased
|
28000
| ||
Add: Surplus
|
76270
|
778770
|
100500
| ||
Pre - received Subscription
|
15000
|
Less: Depreciation
|
8650
|
91850
| |
Books
|
551000
| ||||
Add: Purchased
|
80000
| ||||
631000
| |||||
Less: Depreciation
|
100000
|
531000
| |||
Investment in securities
|
50000
| ||||
Add: Purchased
|
100000
|
150000
| |||
Cash inHand
|
6420
| ||||
Cash at Bank
|
7000
| ||||
Outstanding Subscription
|
7500
| ||||
793770
|
793770
|
