Balbharati Solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board.
Chapter 2: Accounts of ‘Not for Profit’ Concerns
Complete the Table:
Sr. No. | Income (₹) | Expenditure (₹) | Surplus/Deficit (₹) |
1 | 10,000 | ___________ ? | 5,000 (Deficit) |
2 | 8,000 | ___________ ? | 4,000 (Surplus) |
3 | ___________ ? | 15,000 | 8,000 (Surplus) |
4 | 7,500 | 9,000 | ___________ ? |
5 | 15,000 | 11,300 | ___________ ? |
Complete the Table:
Salaries paid during the year
Sr. No | Total ₹ | Prepaid/Outstanding | ₹ | Expenditure for the year |
1 | 1,100 | Prepaid | 100 | _____ ? |
2 | 2,700 | Prepaid | _____ ? | 2,000 |
3 | 8,250 | Prepaid | _____ ? | 6,650 |
4 | 1,200 | Outstanding | 200 | _____ ? |
5 | _____ ? | Outstanding | 600 | 5,100 |
6 | 1,800 | Outstanding | _____ ? | 2,200 |
Complete the Table:
Rent received during the year
Sr.No | Total Received ₹ | Rent received in Advance/Accrued | ₹ | Income for the year ₹ |
1 | 1,300 | Received in Advance | 200 | _____ ? |
2 | _____ ? | Received in Advance | 400 | 1,400 |
3 | 2,650 | Received in Advance | _____ ? | 2,000 |
4 | _____ ? | Accrued | 290 | 3,190 |
5 | 1,700 | Accrued | _____ ? | 2,150 |
6 | 2,600 | Accrued | 500 | _____ ? |
Calculate the following
10 % p.a. Depreciation on Furniture ₹ 50,000 (for three months) FOR SOLUTION CLICK HERE |
12% p.a. Interest on Bank loan ₹ 80,000 for 1 year. FOR SOLUTION CLICK HERE |
Opening stock of stationery ₹ 5,000, purchases of stationery ₹ 7000, outstanding stationery bill ₹ 12,000, closing stock ₹ 1000. What is the amount of stationery consumed? FOR SOLUTION CLICK HERE |
Salary ₹ 10,000, outstanding salary ₹ 5,000. Calculate the salary to be debited to Income and Expenditure Account. FOR SOLUTION CLICK HERE |
Library Books ₹ _________ ? Less 10 % Depreciation ₹ 5,000 = ₹ 45,000. FOR SOLUTION CLICK HERE |
Practical Problems | Q 1 | Page 114
(Calculation of stationery consumed during the year)
Liabilities | Amt. ₹ | Amt. ₹ | Assets | Amt. ₹ | Amt. ₹ |
Stock of Stationery | 400 |
Receipts and Payments Account for the year ending 31.03.2019
Receipts | Amt. ₹ | Amt. ₹ | Payments | Amt. ₹ | Amt. ₹ |
By Stationery Purchased | 6,300 |
Adjustments :
1. ₹ 1,000 Outstanding for Stationery bill.
2. Stock of Stationery as on 31.03.2019 was valued at ₹1,800
With the above information, calculate the amount of Stationery consumed during the year and show its presentation in final Accounts of a concern.
Solution:
In the books of _____________
Income and Expenditure Account for the year ended 31st March, 2019
Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) |
To Stationery Consumed during the Year | |||||
Opening Stock | 400 | ||||
Add: Stationery Purchased during the Year | 6,300 | ||||
Add: Credit Purchase of Stationery (Outstanding bill) | 1,000 | ||||
7700 | |||||
Less: Closing Stock of Stationery | 1800 | 5,900 |
Practical Problems | Q 2 | Page 115
Balance Sheet as on 01.04.2018
Liabilities | Amt. ₹ | Amt. ₹ | Assets | Amt. ₹ | Amt .₹ |
Subscription received in Advance for 2018 - 19 | 20,000 | Outstanding Subscription | |||
2016 - 17 | 26,000 | ||||
2017 - 18 | 35,000 | 61,000 |
Receipts and Payments Account for the year ending 31.03.2019.
Liabilities | Amt. ₹ | Amt. ₹ | Assets | Amt. ₹ | Amt .₹ |
Subscription received in Advance for 2018 - 19 | 20,000 | Outstanding Subscription | |||
2016 - 17 | 26,000 | ||||
2017 - 18 | 35,000 | 61,000 |
Adjustments :
Outstanding Subscription for 2018 - 19 is ₹ 32,000
With the above information present the item Subscription in Income and Expenditure Account for the year ended 31.03.2019 Balance Sheet as on the date.
Solution:
In the books of ________________
Income and Expenditure Account for the year ended 31st March 2019
Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) |
By Subscription | 4,10,000 | ||||
Add: Outstanding Subscription for Current Year 2018–19 | 32,000 | ||||
4,42,000 | |||||
Add: Subscription of Current Year received in Advance in the Previous Year 2017–18 | 20,000 | 4,62,000 |
Balance Sheet as on 31st March 2019
Liabilities | Amt (₹) | Amt (₹) | Assets | Amt (₹) | Amt (₹) |
Subscription received in Advance for the Year 2019 – 20 | 21,000 | Outstanding Subscription for | |||
Add: Year 2018–19 (Current year) | 32,000 | ||||
Add : Year 2016–17 (26,000 – 23,000) | 3,000 | ||||
Add : Year 2017–18 (35,000 – 30,000) | 5,000 | 40,000 |
Working Note :
Outstanding subs. given in the balance sheet as on 01 – 04 – 2018 are ₹ 26,000 (for 2016–17) and ₹ 35,000 (for 2017 – 18). Against that as shown in receipt – Payment A/c ₹ 23,000 and ₹ 30,000 are received respectively. Means ₹ 3,000 and ₹ 5,000 are still outstanding which are known in the current year balance sheet.
Practical Problems | Q 3 | Page 115
Receipts and Payments Account for the year ending 31.03.2018.
Receipts | Amt. ₹ | Amt. ₹ | Payments | Amt.₹ | Amt. ₹ |
To Subscriptions | |||||
2016 - 17 | 2,000 | ||||
2017 - 18 | 60,000 | ||||
2018 - 19 | 4,500 | 66,500 |
Adjustments :
Subscription Outstanding for the year 2017 - 18 is ₹ 6,000.
During previous year Subscription received in advance for 2017 - 18 is ₹ 2,000.
Outstanding subscription of 2016 - 2017 is ₹ 2,500
With the help of the above information present the item Subscription in Income and Expenditure Account for the year ending 31.03.2018 and Balance Sheet as on that date.
Solution:
In the books of _____________________
Income and Expenditure Account for the year ended 31st March, 2018
Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) |
By Subscription (Year 2017–18) | 60,000 | ||||
Add: Outstanding Subscription of Current Year 2017–18 | 6,000 | ||||
Add: Subscription received in Advance of Current Year in Previous Year | 2,000 | 68,000 |
Balance Sheet as on 31st March, 2018
Liabilities | Amt (₹) | Amt (₹) | Assets | Amt (₹) | Amt (₹) |
Subscription received in Advance in the Current Year for the Year 2018 – 19 | 4,500 | Outstanding Subscription for Current Year (2017–18) | 6,000 | ||
Outstanding Subscription for the Year 2016 – 17 (2,500 – 2,000) | 500 |
Practical Problems | Q 4 | Page 116
Following is the Receipts and Payments Account of “Satara Sports Club” Satara Prepare Income and Expenditure Account for the year ending 31.03.2019.
Receipts and Payments Account for the year ending 31.03.2019.
Receipts | Amt ₹ | Amt ₹ | Payments | Amt ₹ | Amt ₹ |
To Balance b/d | By Salaries | 5,000 | |||
Cash in hand | 4,500 | By Rent (Including ₹ 2,000 for 2017 - 18) | 5,000 | ||
Cash at Bank | 12,000 | 16,500 | By Electricity Charges | 1,450 | |
To Subscription | By Fixed Deposit | 60,000 | |||
2017 - 18 | 4,000 | By Printing and Stationery | 750 | ||
2018 - 19 | 44,500 | By General Expenses (Including ₹ 500 paid for next year) | 5,500 | ||
2019 - 20 | 3,500 | 52,000 | By Sports Material Purchased | 40,000 | |
To Entrance fees | 8,000 | By Balance c/d | |||
To Donation for Building fund | 70,000 | Cash in Hand | 8,900 | ||
To Interest | 600 | Cash at Bank | 25,000 | 33,900 | |
To Sale of furniture (Book Value ₹ 8000) | 4,500 | ||||
1,51,600 | 1,51,600 |
Adjustments:
1) Outstanding Subscription for Current Year is ₹ 4,500
2) Outstanding Rent for Current Year amounted to ₹ 1,000
3) Entrance Fees are to be treated as Revenue Income
4) Stock of Sports Material as on 01.04.2018 ₹ 6,000 and on 31.03.2019 ₹ 14,000
Solution:
In the books of ‘ Satara Sports Club’ Satara
Income and Expenditure Account for the year ended on 31st March 2019
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salaries | 5,000 | By Subscription received for 2018 – 19 | 44,500 | ||
To rent | 5,000 | Add: Outstanding Subscription for Current Year | 4,500 | 49,000 | |
Add: Outstanding rent of Current Year | 1,000 | By Entrance Fees | 8,000 | ||
Less: rent received for the Year 2017 – 18 | 2,000 | 4,000 | By Interest | 600 | |
To Electricity Charges | 1,450 | ||||
To Printing and Stationery | 750 | ||||
To General Expense | 5,500 | ||||
Less: Amount Paid for Next Year | 500 | 5,000 | |||
To Sports Material Consumed | |||||
Opening Stock | 6,000 | ||||
Add: Sports Material Purchased in Current Year | 40,000 | ||||
46,000 | |||||
Less: Closing Stock of Sports Material | 14,000 | 32,000 | |||
To Loss due to Sale of Furniture (8,000 – 4,500) | 3,500 | ||||
To Surplus (Excess of income over expenditure) | 5,900 | ||||
57600 | 57600 |
Working Notes :
(1) Entrance fees are to be treated as revenue income. Therefore the entire amount is recorded on the income side.
(2) Since the selling price of Furniture ₹ 4,500 is lower than its cost price of ₹ 8,000, there is Loss on sale of furniture.
It is calculated as follows :
Loss on sale of furniture = Book value (cost) – Selling price
= 8,000 – 4,500
= ₹ 3,500
It is debited to Income and Expenditure A/c.
Practical Problems | Q 5 | Page 117
“Bhartiya Kala Kendra”, Solapur gives you the following information, for the year ended on 31.03.2018 Prepare Income and Expenditure Account for the year ending 31.03.2018
Receipts and payments Account for the year ending 31.03.2018.
Receipts | Amount ₹ | Payments | Amount ₹ |
To Balance b/d | By Stationery | 600 | |
Cash in Hand | 200 | By Furniture Purchased | 7,000 |
Cash at Bank | 12,500 | By Investments in govt securities | 14,000 |
To Locker Rent | 400 | By Expenses of Drama | 3,000 |
To Entrance fees | 2,900 | By Postage | 450 |
To Sale of old newspapers | 250 | By Magazine and newspaper | 600 |
To Receipts from Drama | 9,000 | By Salaries | 4,400 |
To Legacies | 12,000 | By Balance c/d | |
To Interest of Govt. Securities | 400 | Cash in Hand | 700 |
To Miscellaneous Receipts | 400 | Cash at Bank | 7,300 |
38050 | 38050 |
Additional Information :
1) Legacies are to be capitalized
2) Outstanding Salary ₹ 200
3) 50 % of Entrance Fees are to be Capitalised
Solution:
In the books of Bhartiya Kala Kendra, Solapur
Income and Expenditure Account for the year ended 31st March
Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) |
To Stationery | 600 | By Locker rent | 400 | ||
To Expenses of Drama | 3,000 | By Entrance Fees | 2,900 | ||
To Postage | 450 | Less: 50 % Capitalised | 1,450 | 1,450 | |
To Magazine and Newspaper | 600 | By Sale of Old Newspapers | 250 | ||
To Salaries | 4,400 | By receipts from Drama | 9,000 | ||
Add: Outstanding Salaries | 200 | 4,600 | By Interest on Govt. Securities | 400 | |
To Surplus (Excess of income over expenditure) | 2,650 | By Miscellaneous receipts | 400 | ||
11900 | 11900 |
Practical Problems | Q 6 | Page 117
From the following particulars relating to “Radha-Krishna Charitable Hospital” Pune. Prepare Income and Expenditure Account for the year ending 31.03.2020 and Balance Sheet as on that date.
Receipts and payments Account for the year ending 31.03.2020.
Receipts | Amount ₹ | Payments | Amount ₹ | |
To Balance b/d | By Medicines Purchased | 41,000 | ||
Cash | 8,230 | By General Expenses | 1,050 | |
To Subscriptions | 52,000 | By Salaries | 23,500 | |
To Donations (General) | 17,500 | By Stationery | 2,000 | |
To Interest in Investments | 10,000 | By Expenses on Charity Show | 550 | |
To Proceeds from Charity Show | 8,530 | By Surgery and Dispensary Exp | 4,200 | |
By Equipments | 10,000 | |||
By Balance c/d | ||||
Cash in Hand | 960 | |||
Cash at Bank | 13,000 | 13,960 | ||
96,260 | 96,260 |
Additional Information :
Particulars | 01.04.2019 ₹ | 31.03.2020 ₹ |
1. Subscription Due | 310 | 350 |
2. Subscription Received in Advance | 600 | 150 |
3. Stock of Medicine | 8,000 | 11,000 |
4. Estimated Value of Equipment | 15,000 | ? |
5. Building | 40,000 | ? |
6. Capital Fund | 1,70,940 | ? |
7. 10 % Investment | 1,00,000 | ? |
Provide Depreciation on Equipments ₹ 1,900 and on Building ₹ 1,500
Solution:
In the books of Radha-Krishna Charitable Hospital, Pune
Income and Expenditure Account for the year ended 31st March 2020
Expenditure | Amount (₹) | Amount (₹) | Income | Amount (₹) | Amount (₹) | ||
To Medicines Consumed | By Subscriptions | 52,000 | |||||
Opening Stock | 8,000 | Add: Outstanding of Current Year | 350 | ||||
Add: Purchases | 41,000 | Add: received in Advance in Previous Year | 600 | ||||
49,000 | 52,950 | ||||||
Less: Closing Stock | 11,000 | 38,000 | Less: received in Current Year of the Previous Year | 150 | |||
To General Expenses | 1,050 | Less: Subscription due of Previous Year | 310 | 52,490 | |||
To Salaries | 23,500 | By Donations (General) | 17,500 | ||||
To Stationery | 2,000 | By Interest on Investments | 10,000 | ||||
To Expenses on charity show | 550 | By Proceeds from Charity Show | 8,530 | ||||
To Surgery and Dispensary Expense | 4,200 | ||||||
To Depreciation | |||||||
Equipments | 1,900 | ||||||
Building | 1,500 | 3,400 | |||||
To Surplus (Excess of income over expenditure) | 15,820 | ||||||
88,520 | 88,520 | ||||||
Balance Sheet as on 31st March 2020
Liabilities | Amount (₹) | Amount (₹) | Assets | Amount (₹) | Amount (₹) |
Capital Fund | 1,70,940 | Outstanding Subscription | 350 | ||
Add : Surplus | 15,820 | 1,86,760 | Closing Stock of Medicines | 11,000 | |
Subscription received in Advance | 150 | Equipments opening Balance | 15,000 | ||
Add: Purchases | 10,000 | ||||
25,000 | |||||
Less: Depreciation | 1,900 | 23,100 | |||
Buildings | 40,000 | ||||
Less: Depreciation | 1,500 | 38,500 | |||
10% Investments | 1,00,000 | ||||
Cash in Hand | 960 | ||||
Cash at Bank | 13,000 | ||||
1,86,910 | 1,86,910 |
Working Notes :
(1) To find medicines consumed, here in the opening stock, purchases is added and the closing stock of medicine is subtracted.
(2) For equipment, in opening balance, add equipment purchased during the year and subtract depreciation to get the closing balance of equipment.
(3) Interest ₹ 10,000 is received on 10 % investments means there is no outstanding interest.
Practical Problems | Q 7 | Page 118
From the following transactions of Receipts and Payments Account of “Pavan - Putra Hanuma Vyayamshala” Parbhani, and the adjustments given, you are required to prepare Income and Expenditure Account and Balance Sheet as on 31st March 2019.
Receipts and Payments Account for the year ending 31.03.2019.
Receipts | Amount ₹ | Payments | Amount ₹ | |
To Balance b/d | By Salaries | 6,000 | ||
Cash in Hand | 5,000 | By Entertainment Expenses | 2,480 | |
To Subscriptions | By Sundry Expenses | 1,300 | ||
2018 - 19 | 18,000 | By Electricity Charges | 1,200 | |
2019 - 20 | 410 | 18,410 | By Rent | 700 |
To Donations | 6,000 | By Investment | 15,000 | |
To Receipts from Entertainment | 5,400 | By Printing and Stationery | 800 | |
To Interest | 400 | By Postage | 3,200 | |
To Entrance fees | 6,200 | By Fixed Deposit | 3,900 | |
By Balance c/d | ||||
Cash in Hand | 830 | |||
Cash at Bank | 6000 | 6,830 | ||
41,410 | 41,410 |
Adjustments:
1) There are 500 members paying an annual Subscription of ₹ 50 each
2) Outstanding Salary was ₹ 1,200
3) The Assets on 01.04.2018 were as follows: Building ₹ 50,000, Furniture ₹ 15,000
4) Provide depreciation on Building and Furniture at 5% and 10% respectively.
5) 50% Entrance Fee is to be capitalized.
6) Interest on Investment at 5% p. a. has accrued for 6 months.
7) Capital Fund ₹ 70,000 on 01.04.2018
Solution:
In the books of Pavan-putra Hanuman Vyayamshala, Parbhani
Income and Expenditure Account for the year ended on 31st March, 2019
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salaries | 6,000 | By Subscription | 18,000 | ||
Add*: Outstanding | 1,200 | 7,200 | Add: Outstanding Subscription for Current Year | 7000 | 25000 |
To Entertainment Expenses | 2,480 | By Donations | 6,000 | ||
To Sundry Expenses | 1,300 | By receipts from Entertainment | 5,400 | ||
To Electricity Charges | 1,200 | By Interest | 400 | ||
To Rent | 700 | By Outstanding Interest on Investments (6 Months) | 375 | ||
To Printing and Stationery | 800 | By Entrance Fees | 6,200 | ||
To Postage | 3,200 | Less : 50 % capitalised | 3,100 | 3,100 | |
To Depreciation | |||||
Building | 2,500 | ||||
Furniture | 1,500 | 4,000 | |||
To Surplus (Excess of income over expenditure) | 19,395 | ||||
40,275 | 40,275 |
Balance Sheet as on 31st March, 2019
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 70,000 | Building | 50,000 | ||
Add: Surplus | 19,395 | Less: Depreciation | 2,500 | 47,500 | |
Add: 50 % Entrance Fees | 3,100 | 92,495 | Furniture | 15,000 | |
Outstanding Salary | 1,200 | Less: Depreciation | 1,500 | 13,500 | |
Subscription received in Advance | 410 | Investments | 15,000 | ||
Outstanding Interest on Investments | 375 | ||||
Fixed Deposit | 3,900 | ||||
Cash in Hand | 830 | ||||
Cash at Bank | 6,000 | ||||
Outstanding Subscription of Current Year | 7,000 | ||||
94,105 | 94,105 |
Working Notes :
(1) Interest on investment is receivable for 6 months
I = PNR/100 = 15000 × (5 ÷ 100) × (6 ÷ 12) = ₹ 375 (outstanding interest on investment)
(2) 50% of entrance fees (i.e. 6200 ÷ 2 = ₹ 3100) is to be capitalised means add it to the capital fund.
(3) Total subscription of current year = 500 members × ₹ 50 = ₹ 25,000
But actual subscription received = ₹ 18,000
means difference (25,000 – 18,000) of ₹ 7,000 is outstanding subscription.
Practical Problems | Q 8 | Page 119
“Jeevan Jyoti Art Circle” a newly established concern has presented the following information.
Receipts and Payments Account for the year ending 31.03.2018.
Receipts | Amount ₹ | Amount ₹ | Payments | Amount ₹ | Amount ₹ |
To Admission fees | 22,000 | By Furniture | 12,000 | ||
To Subscriptions | 40,000 | By Stationery | 4,000 | ||
To Donations | 18,000 | By Office Rent | 2,600 | ||
By Newspapers & Periodicals | 300 | ||||
By Telephone Expenses | 560 | ||||
By Investments | 23,000 | ||||
By Balance c/d | |||||
Cash in Hand | 7,540 | ||||
Cash at Bank | 30,000 | 37,540 | |||
80,000 | 80,000 |
Adjustments:
1) Subscription Outstanding for the year was ₹ 5,000
2) Depreciate Furniture @10 % p.a
3) Full amount of Admission Fees and 50*% Donations are to be capitalized.
You are required to prepare Income and Expenditure Account for the year ending 31.03.2018 and Balance Sheet as on that date.
Solution:
In the books of Jeevan Jyoti Art Circle
Income and Expenditure Account for the year ended 31st March 2018
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ | ||
To Stationery | 4,000 | By Donations | 18,000 | ||||
To Office rent | 2,600 | Less: 50 % Capitalised | 9,000 | 9,000 | |||
To Newspapers and Periodicals | 300 | By Subscription | 40,000 | ||||
To Telephone Expenses | 560 | Add: Outstanding of Current Year | 5,000 | 45,000 | |||
To Depreciation Furniture | 1,200 | ||||||
To Surplus (Excess of income over expenditure) | 45,340 | ||||||
54000 | 54000 | ||||||
Balance Sheet as on 31st March, 2018
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | - | Furniture | 12,000 | ||
Add: Surplus | 45,340 | Less: Depreciation | 1,200 | 10,800 | |
Add: Admission Fees (Capitalised) | 22,000 | Investments | 23,000 | ||
Add : Donations (50 % Capitalised) | 9,000 | 76,340 | Cash in Hand | 7,540 | |
Cash at Bank | 30,000 | ||||
Outstanding Subscription | 5,000 | ||||
76,340 | 76,340 |
Working Notes:
The full amount of admission fees and 50% of donations are added to the surplus amount to get the capital funds. (Opening balance of the capital fund is not given.)
Practical Problems | Q 9 | Page 119
Given below is the Receipts and Payments Account of “Vithai Mahila Mandal” Pandharpur for the year ending 31.03.2018.
Prepare an Income and Expenditure Account for the year ended 31.03.2018 and Balance Sheet as on that date.
Receipts and Payments Account for the year ending 31.03.2018.
Receipts | Amount ₹ | Amount ₹ | Payments | Amount ₹ | Amount ₹ |
To Balance b/d | By Stationery | 6000 | |||
Cash in Hand | 3,000 | By Repairs to Furniture | 950 | ||
Cash at Bank | 20,000 | 23,000 | By Rent | 8,300 | |
To Entrance Fees | 3,500 | By Salaries | 15,000 | ||
To Subscription | 19,000 | By Miscellaneous Expenses | 450 | ||
To Miscellaneous Receipts | 850 | By Balance c/d | |||
Cash in Hand | 1,650 | ||||
Cash at Bank | 14,000 | 15,650 | |||
46,350 | 46,350 |
Adjustments :
1) Capital Fund on 01.04.2017 was ₹ 90,000
2) Outstanding Subscription ₹ 4,000
3) Entrance Fees are to be capitalized
4) Rent paid includes ₹ 800 paid for April 2018
5) They have the following Assets and Liabilities 01.04.2017
Furniture ₹ 9,000,
Building ₹ 70,000,
Outstanding Expenses ₹ 12,000
Solution:
In the books of Vithai Mahila Mandal, Pandharpur
Income and Expenditure Account for the year ended 31st March 2018
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Stationery | 6,000 | By Subscription | 19,000 | ||
To Repairs to Furniture | 950 | Add: Outstanding Subscription | 4,000 | 23,000 | |
To Rent | 8,300 | By Miscellaneous receipts | 850 | ||
Less: Prepaid Rent | 800 | 7,500 | By Deficit (Excess of expenses over incomes) | 6,050 | |
To Salaries | 15,000 | ||||
To Miscellaneous Expense | 450 | ||||
29,900 | 29,900 |
Balance Sheet as on 31st March 2018
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 90,000 | Furniture | 9,000 | ||
Add: Entrance Fees (Capitalised) | 3,500 | Building | 70,000 | ||
Less: Deficit | 6,050 | 87,450 | Outstanding Subscription | 4,000 | |
Outstanding Expenses | 12,000 | Cash in Hand | 1,650 | ||
Cash at Bank | 14,000 | ||||
Prepaid rent | 800 | ||||
99,450 | 99,450 |
Working Notes :
(1) Outstanding subscription of ₹ 4,000 is first added to subscription received on the credit side of Income and Expenditure A/c and then it is shown on the Assets side of the Balance Sheet.
(2) The entire amount of the entrance fees ₹ 3,500 is added to the capital fund.
(3) Prepaid ₹ 800 is first deducted from rent paid on the debit side of Income & Expenditure A/c and then shown on the Assets side of the Balance Sheet.
(4) Outstanding expenses ₹ 12,000 is directly shown on the Liabilities side of the Balance Sheet.
Practical Problems | Q 10 | Page 120
From the following Receipts and Payments Account “K.B.P. Engineering College” Nashik for the year ending on 31.03.2019 and additional information, prepare Income and Expenditure Account for the year ending 31.03.2019 and Balance Sheet as on that date.
Receipts and payments Account for the year ending 31.03.2019.
Receipts | Amount ₹ | Payments | Amount ₹ |
To Balance b/d | By Salaries to Teaching Staff | 11,70,000 | |
Cash in Hand | 18,000 | By Electricity Charges | 55,000 |
Cash at Bank | 1,00,400 | By Books | 61,000 |
To Interest | 55,000 | By Furniture | 51,000 |
To Subscriptions | 28,300 | By Stationery | 21,850 |
To Life Membership fees | 25,000 | By Fixed Deposit (31.03.2019) | 8,50,000 |
To Donation | 7,00,000 | By Balance c/d | |
To Tuition Fees | 12,30,000 | Cash in Hand | 16,650 |
To Term Fees | 2,00,800 | Cash at Bank | 2,00,000 |
To Sundry Receipts | 8,000 | ||
To Admission Fees (Revenue) | 60,000 | ||
24,25,500 | 24,25,500 |
Additional Information :
Particulars | 01.04.2018 ₹ | 31.03.2019 ₹ |
Books | 6,00,000 | 6,00,000 |
Furniture | 3,19,000 | 3,00,000 |
Building Fund | 10,00,000 | ? |
Fixed Deposit | 9,10,000 | ? |
Capital Fund | 9,47,400 | ? |
1) 50% of Donation are for Building Fund and the balance is to be treated Revenue Income.
2) Outstanding subscription ₹ 5,300
3) Life membership fees are to capitalised
Solution:
In the books of K.B.P. Engineering College, Nashik
Income and Expenditure Account for the year ended on 31st March, 2019
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salaries to Teaching Staff | 11,70,000 | By Interest | 55,000 | ||
To Electricity Charges | 55,000 | By Subscription | 28,300 | ||
To Stationery | 21,850 | Add: Outstanding Subscription | 5,300 | 33,600 | |
To Depreciation | By Donations | 7,00,000 | |||
Furniture | 70,000 | Less: 50 % for Building Fund | 3,50,000 | 3,50,000 | |
Books | 61,000 | 1,31,000 | By Tuition Fees | 12,30,000 | |
To Surplus (Excess of income over expenditure) | 5,59,550 | By Term Fees | 2,00,800 | ||
By Sundry receipts | 8,000 | ||||
By Admission Fees | 60,000 | ||||
19,37,400 | 19,37,400 |
Balance Sheet as on 31st March, 2019
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 9,47,400 | Outstanding Subscription | 5300 | ||
Add: Surplus | 5,59,550 | Books | 6,00,000 | ||
Add: Life Membership Fees (Capitalised) | 25,000 | 15,31,950 | Add: Purchases | 61,000 | |
Building Fund | 10,00,000 | 6,61,000 | |||
Add: 50% of Donations | 3,50,000 | 13,50,000 | Less: Depreciation | 61,000 | 6,00,000 |
Furniture | 3,19,000 | ||||
Add: Purchase | 51,000 | ||||
3,70,000 | |||||
Less: Depreciation | 70,000 | 3,00,000 | |||
Fixed Deposits (Old) | 8,50,000 | ||||
Cash in Hand | 16,650 | ||||
Cash in Bank | 2,00,000 | ||||
Fixed Deposits (New) | 9,10,000 | ||||
28,81,950 | 28,81,950 |
Working Notes :
(1) Life membership fees are to be capitalised, means add entire amount in capital fund.
(2) 50% of Donations of ₹ 7,00,000 i.e., ₹ 3,50,000 is to be added to the Building Fund, and the remaining amount of donation i.e., ₹ 3,50,000 is credited to Income and Expenditure A/c.
(3) The depreciation on Fixed assets is calculated by using following formula:
Depreciation = Opening balance + Purchases – Closing value
∴ Depreciation on Books = 6,00,000 + 61,000 – 6,00,000
= 6,61,000 – 6,00,000
= ₹ 61,000
∴ Depreciation on Furniture = 3,19,000 + 51,000 – 3,00,000
= 3,70,000 – 3,00,000
= ₹ 70,000
(4) Fixed Deposit:
Opening balance given | ₹ 910000 |
Fixed deposit (31 – 03 – 2019) (Newly purchased) | ₹ 850000 |
∴ Total fixed deposits | ₹ 1760000 |
(5) Admission Fees ₹ 60,000 is recorded on the credit side of Income and Expenditure A/c because it is taken as revenue income.
Practical Problems | Q 11 | Page 121
From the following Balance Sheet and Receipts and Payments Account of “New English School”, Barshi, Prepare Income and Expenditure Account for the year ending 31.03.2020 and a Balance Sheet as on that date.
Balance Sheet as on 01.04.2019
Liabilities | Amount ₹ | Assets | Amount ₹ |
Capital Fund | 6,43,000 | Cash in Hand | 6,000 |
Cash at Bank | 10,000 | ||
Building | 4,50,000 | ||
Furniture | 72,000 | ||
Library Books | 45,000 | ||
Computer Laboratory | 60,000 | ||
6,43,000 | 6,43,000 |
Receipts and Payments Account for the year ending 31.03.2020
Receipts | Amount ₹ | Amount ₹ | Payments | Amount ₹ | Amount ₹ |
To Balance b/d | By Salary | 90,000 | |||
Cash in Hand | 6,000 | By Library Books | 14,000 | ||
Cash at Bank | 10,000 | 16,000 | By Office Rent | 10,000 | |
To Tuition Fees | 90,000 | By Printing and Stationery | 22,000 | ||
To Term Fees | 3,000 | By Sundry Expenses | 12,000 | ||
To Admission Fees | 12,000 | By Insurance | 10,200 | ||
To Donation (Capital) | 61,000 | By Sport Expenses | 8,000 | ||
To Interest Received | 2,000 | By Annual Gathering Exp | 9,000 | ||
To Government Grant (Revenue) | 1,20,000 | By Furniture | 50,000 | ||
To Sundry Receipts | 11,000 | By Repairs | 15,000 | ||
By Balance c/d | |||||
Cash in Hand | 4,800 | ||||
Cash at Bank | 70,000 | 74,800 | |||
315000 | 315000 |
Additional Information :
1) Outstanding Salary of ₹ 9,000
2) Outstanding Tuition Fees ₹ 15,000
3) Depreciate Library Books by ₹ 9,000 and Furniture by ₹ 10,000
Solution:
In the books of New English School, Barshi
Income and Expenditure Account for the year ended 31st March, 2020
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salary | 90,000 | By Tuition Fees | 90,000 | ||
Add: Outstanding Salary | 9,000 | 99,000 | Add: Outstanding tuition Fees | 15,000 | 1,05,000 |
To Office rent | 10,000 | By Term Fees | 3,000 | ||
To Printing and Stationery | 22,000 | By Admission Fees | 12,000 | ||
To Sundry Expenses | 12,000 | By Interest Received | 2,000 | ||
To Insurance | 10,200 | By Government Grant | 1,20,000 | ||
To Sport Expenses | 8,000 | By Sundry Receipts | 11,000 | ||
To Annual Gathering Expenses | 9,000 | ||||
To Repairs | 15,000 | ||||
To Depreciation | |||||
Library Books | 9,000 | ||||
Furniture | 10,000 | 19,000 | |||
To Surplus (Excess of income over expenditure) | 48,800 | ||||
2,53,000 | 2,53,000 |
Balance Sheet as on 31st March, 2020
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 6,43,000 | Building | 4,50,000 | ||
Add: Surplus | 48,800 | Furniture | 72,000 | ||
Add: Donation | 61,000 | 7,52,800 | Add: Purchases | 50,000 | |
Outstanding Salary | 9,000 | 1,22,000 | |||
Less: Depreciation | 10,000 | 1,12,000 | |||
Library Books | 45,000 | ||||
Add: Purchases | 14,000 | ||||
59,000 | |||||
Less: Depreciation | 9,000 | 50,000 | |||
Computer Laboratory | 60,000 | ||||
Cash in Hand | 4,800 | ||||
Cash at Bank | 70,000 | ||||
Outstanding Tuition Fees | 15,000 | ||||
7,61,800 | 7,61,800 |
Working Notes :
(1) Donation (Capital) is added in Capital fund.
(2) Government Grant ₹ 1,20,000 is recorded on the credit side of Income & Expenditure A/c because it is revenue income of the organisation.
(3) Outstanding tuition fees ₹ 15,000 and outstanding salary ₹ 9,000 are added to respective head of Account and then they are shown separately on the Assets side and Liabilities side of Balance Sheet respectively.
Practical Problems | Q 12 | Page 122
Following is the Receipts Payments Account of “Dhananjay Library, Mumbai” for the year ending 31.03.2020
Receipts and Payments Account for the year ending 31.03.2020.
Receipts | Amount ₹ | Payments | Amount ₹ |
To Balance b/d | 5,000 | By Salaries | 9,000 |
To Admission Fees | 4,500 | By Rent | 7,500 |
To Subscriptions | 20,000 | By Investments | 6,000 |
To Lecture Hall Hire Charges | 4,200 | By Stationery | 1,350 |
To Miscellaneous Income | 250 | By Electricity Charges | 850 |
To Interest on Investment | 900 | By Books | 5,000 |
By Outstanding Expenses (2018 - 19) | 500 | ||
By Balance c/d | 4,650 | ||
34850 | 34850 |
You are required to prepare an Income and Expenditure Account for the year ended 31.03.2020 and Balance Sheet as on that day.
The following information is also made available to you.
1) On 31.03.2019, the Library had the following Assets also; Books at ₹ 50,000, Furniture ₹ 6,500, and Machinery of ₹ 30,000
2) Subscription received in advance amounted to ₹ 500
3) Outstanding Salaries ₹ 1300 and for Rent ₹ 950
4) 50% of the Admission Fees should be capitalized.
5) Furniture to be depreciated at 10% p.a.
6) Library Books were purchased on 1st April 2019 charge Depreciation at 10% p. a.
7) The Investments were purchased on 01.04.2019 and they carry interest at 20*% p.a
Solution:
In the books of Dhananjay Library, Mumbai
Income and Expenditure Account for the year ended 31st March 2020
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salaries | 9,000 | By Subscription | 20,000 | ||
Add: Outstanding Salary | 1,300 | 10,300 | Less: Subscription Received in Advance | 500 | 19,500 |
To Rent | 7,500 | By Admission Fees | 4,500 | ||
Add: Outstanding Rent | 950 | 8,450 | Less: 50% Capitalised | 2,250 | 2,250 |
To Stationery | 1,350 | By Lecture Hall Hire Charges | 4,200 | ||
To Electricity Charges | 850 | By Miscellaneous Income | 250 | ||
To Depreciation | By Interest on Investments | 900 | |||
Furniture | 650 | Add: Outstanding Interest | 300 | 1,200 | |
Library Books (5000 + 500) | 5,500 | 6,150 | |||
To Surplus (Excess of Income over expenditure) | 300 | ||||
27400 | 27400 |
Balance Sheet as on 31st March 2020
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 91,000 | Machinery | 30,000 | ||
Add : 50 % Admission | 2,250 | Books | 50,000 | ||
Add: Surplus | 300 | 93,550 | Add: Purchases | 5,000 | |
Outstanding Salaries | 1,300 | 55,000 | |||
Outstanding Rent | 950 | Less: Depreciation (5000 + 500) | 5,500 | 49,500 | |
Subscription Received in Advance | 500 | Furniture | 6,500 | ||
Less: Depreciation | 650 | 5,850 | |||
Investments | 6,000 | ||||
Add: Outstanding Interest | 300 | 6,300 | |||
Cash in Hand | 4,650 | ||||
96300 | 96300 |
Working Notes :
(1) Opening Balance Sheet is prepared to find out opening capital fund :
Balance Sheet as on 31st March 2019
Liabilities | Amount ₹ | Assets | Amount ₹ |
Outstanding Expenses | 500 | Books | 50,000 |
Capital Fund (Balancing figure) | 91,000 | Furniture | 6,500 |
Machinery | 30,000 | ||
Cash in Hand (Opening balance of Receipt – Payment A/c) | 5,000 | ||
91500 | 91500 |
(2) Outstanding expenses of the previous year, paid in the current year so no entry for outstanding expenses (2018 – 19)
(3)
Interest on Investment @ 20 % on ₹ 6,000 | ₹ 1200 |
Interest on Investment received | ₹ 900 |
Outstanding interest on investment | ₹ 300 |
(4)
Depreciation on library books at 10 % p.a. on opening balance of ₹ 50,000 (for whole year) | ₹ 5000 |
On purchases on 01 – 04 – 2019 (for whole year) | ₹ 1500 |
Total Depreciation | ₹ 5500 |
(5) Subscriptions received in advance ₹ 500 is deducted from subscription received on credit side of Income and Expenditure A/c and then subscription received in advance is shown separately on the Liabilities side of the Balance Sheet.
(6) Outstanding salaries and outstanding rent are added to the respective head of Account on the debit side of the Income & Expenditure Account and both the outstanding items are recorded on the Liabilities side of the Balance Sheet.
Practical Problems | Q 13 | Page 123
From the following information supplied to you, prepare Income and Expenditure Account for the year ending on 31.03,2020 and Balance Sheet as on that date for “Morya Sports Club” Thane.
Balance Sheet as on 01.04.2019.
Liabilities | Amount ₹ | Assets | Amount ₹ |
Capital Fund | 64,500 | Machinery | 69,000 |
Bank overdraft | 38,000 | Outstanding Subscriptions | 8,000 |
Outstanding Salary | 4,000 | Prepaid Insurance Premium | 2,000 |
Furniture | 15,000 | ||
Cash in Hand | 12,000 | ||
Outstanding Locker’s Rent | 500 | ||
1,06,500 | 1,06,500 |
Receipts and Payments Account for the year ended 31.03.2020
Liabilities | Amount ₹ | Payments | Amount ₹ |
To Balance b/d | 12,000 | By Balance b/d (Bank Overdraft) | 38,000 |
To Subscription | 1,05,000 | By Salary | 17,500 |
To Entrance Fees (Capitalized) | 9,300 | By Insurance Premium | 11,000 |
To Locker Rent | 1,500 | By Interest | 1,400 |
To Donations (Capitalized) | 800 | By Refreshment Expenses | 4,200 |
By Furniture | 30,000 | ||
By Balance c/d | |||
Cash in Hand | 6,500 | ||
Cash at Bank | 20,000 | ||
1,28,600 | 1,28,600 |
Adjustments :
1) Subscription received includes ₹ 3,000 for 2018 - 19 and Outstanding Subscription for 2019 - 20 was ₹ 14,000.
2) On 31.03.2020, Prepaid Insurance Premium was ₹ 2,500.
3) Depreciate Furniture by ₹ 3,000.
4) Locker Rent Outstanding for 2019 - 20 is ₹ 400
Solution:
In the books of ‘Morya Sports Club’ Thane
Income and Expenditure Account for the year ended 31st March, 2020
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salary | 17,500 | By Subscription | 1,05,000 | ||
Less: Outstanding salary of 2018 – 19 | 4,000 | 13,500 | Add: Outstanding Subscription for Current Year | 14,000 | |
To Insurance Premium | 11,000 | 1,19,000 | |||
Less: Prepared Insurance Premium | 2,500 | Less: Subscription Received of 2018 – 19 | 3,000 | 1,16,000 | |
8,500 | By Locker Rent | 1,500 | |||
Add: Prepaid Insurance premium of current year Paid in previous year | 2,000 | 10,500 | Add: Outstanding Locker Rent | 400 | |
To Depreciation | 1,900 | ||||
Furniture | 3,000 | Less: Outstanding Locker Rent of Previous Year | 500 | 1,400 | |
To Interest | 1,400 | ||||
To Refreshment Expenses | 4,200 | ||||
To Surplus (Excess of income over Expenditure) | 84,800 | ||||
1,17,400 | 1,17,400 |
Balance Sheet as on 31st March, 2020
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 64,500 | Machinery | 69,000 | ||
Add: Surplus | 84,800 | Outstanding Subscription (2018 – 19) (8,000 – 3,000) | 5,000 | ||
Add: Entrance fees (Capitalised) | 9,300 | Outstanding Subscription (2019–20) | 14,000 | ||
Add: Donations (Capitalised) | 800 | 1,59,400 | Prepaid Insurance Premium | 2,500 | |
Furniture | 15,000 | ||||
Add: Purchases | 30,000 | ||||
45,000 | |||||
Less: Depreciation | 3,000 | 42,000 | |||
Outstanding Locker Rent (2019 – 20) | 400 | ||||
Cash in Hand | 6,500 | ||||
Cash at Bank | 20,000 | ||||
1,59,400 | 1,59,400 |
Working Notes :
(1) Outstanding subscription (2018–19) ₹ 8,000 given in b/s against that ₹ 3,000 received in 2019–20.
Means still receivable subscription = ₹ 5,000 (8,000 – 3,000).
(2) Prepaid insurance premium (2018 – 19) ₹ 2,000 is for the current year. Therefore, in current year’s insurance premium, ₹ 2,000 is to be added and then subtract current year’s prepaid insurance premium.
(3) Outstanding salary of (2018 – 19), ₹ 4,000 of the previous year is to be subtracted from the current year’s salary.
(4) The total amount of donations and entrance fees are to be capitalised so add the entire amount of both the items to the Capital fund.
(5) Outstanding locker’s rent (2018 – 19) ₹ 500 is given in Balance Sheet. It is to be subtracted from current year’s locker’s rent and then add current year’s outstanding locker rent.
Practical Problems | Q 14 | Page 124
Following information has been provided by “Vivekanand Charitable Hospital” Latur. You are required to prepare Income and Expenditure Account for the year ending on 31.03.2019 and Balance Sheet as on that date.
Balance Sheet as on 01.04.2018.
Liabilities | Amount ₹ | Assets | Amount ₹ |
Capital Fund | 11,00,000 | Building | 10,50,000 |
Bank Loan | 6,50,000 | Ambulance | 4,00,000 |
Outstanding Bill for Drugs | 50,000 | Stock of Drugs | 42,000 |
Hospital Equipments | 3,04,000 | ||
Cash in Hand | 4,000 | ||
1800000 | 1800000 |
Receipts and Payments Account for the year ended 31.03.2019
Receipts | Amount ₹ | Payments | Amount ₹ |
To Balance b/d | 4,000 | By Purchase of Drugs (Includes 40,000 for 2017 - 18) | 2,00,000 |
To Subscription | 2,22,000 | By Salary to Staff | 85,000 |
To Life Membership Fees | 30,000 | By Honorarium to Doctors | 4,00,000 |
To Hospital Receipts (Revenue) | 5,10,400 | By Repairs and Maintenance | 18,000 |
By Furniture | 45,000 | ||
By General Expenses | 16,000 | ||
By Balance c/d | 2,400 | ||
7,66,400 | 7,66,400 |
Adjustments :
1) On 31.03.2019 Stock of Drugs was valued at ₹ 22,000.
2) Depreciation on Building at 5*% p.a. and on Ambulance ₹ 30,000.
3) Life Membership Fees are to be capitalized.
Solution:
In the books of Vivekanand Charitable Hospital, Latur
Income and Expenditure Account for the year ended 31st March, 2019
Expenditure | Amount ₹ | Amount ₹ | Income | Amount ₹ | Amount ₹ |
To Salary to Staff | 85,000 | By Subscription | 2,22,000 | ||
To Honorarium to Doctors | 4,00,000 | By Hospital Receipts | 5,10,400 | ||
To Repairs and Maintenance | 18,000 | By Deficit (Excess of expenditure over income) | 49,100 | ||
To General Expenses | 16,000 | ||||
To Depreciation | |||||
Building | 52,500 | ||||
Ambulance | 30,000 | 82,500 | |||
To Drugs Consumed | |||||
Opening Stock | 42,000 | ||||
Add : Purchases (2,00,000 – 40,000) | 1,60,000 | ||||
2,02,000 | |||||
Less : Closing stock | 22,000 | 1,80,000 | |||
7,81,500 | 7,81,500 |
Balance Sheet as on 31st March, 2019
Liabilities | Amount ₹ | Amount ₹ | Assets | Amount ₹ | Amount ₹ |
Capital Fund | 11,00,000 | Building | 10,50,000 | ||
Add: Life Membership Fees (Capitalised) | 30,000 | Less: Depreciation | 52,500 | 9,97,500 | |
11,30,000 | Ambulance | 4,00,000 | |||
Less: Deficit | 49,100 | 10,80,900 | Less: Depreciation | 30,000 | 3,70,000 |
Outstanding Bill for Drugs (50,000 – 40,000) | 10,000 | Hospital Equipment | 3,04,000 | ||
Bank Loan | 6,50,000 | Closing stock of Drugs | 22,000 | ||
Furniture | 45,000 | ||||
Cash in Hand | 2,400 | ||||
17,40,900 | 17,40,900 |
Working Notes :
(1) Purchase of drugs ₹ 2,00,000 includes ₹ 40,000 of 2017–18 and in the Balance Sheet of 2017–18, the outstanding bill of drugs is ₹ 50,000 given. So, ₹ 10,000 is still outstanding
(2) Consumption of drugs :
Opening stock (2017 – 18) | 42,000 |
Add: Purchase of drugs | 1,60,000 |
2,02,000 | |
Less: Closing stock of drugs | 22,000 |
Consumption of drugs | 1,80,000 |
Book-keeping and Accountancy 12th Standard
HSC Maharashtra State Board. Latest Syllabus.
Chapter 1: Introduction to Partnership and Partnership Final Accounts
Chapter 2: Accounts of ‘Not for Profit’ Concerns
Chapter 3: Reconstitution of Partnership (Admission of Partner)
Chapter 4: Reconstitution of Partnership (Retirement of Partner)
Chapter 5: Reconstitution of Partnership (Death of Partner)
Chapter 6: Dissolution of Partnership Firm
Chapter 8: Company Accounts - Issue of Shares
Chapter 9: Analysis of Financial Statements
Chapter 10: Computer In Accounting
ACCOUNTS BOARD PAPERS
HSC Accounts March 2020 Board Paper With Solution
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JULY 2015 View | PDF Download
MARCH 2016 View | PDF Download
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PROFORMA OF PROFIT & LOSS ACCOUNT: View | PDF Download
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FINAL ACCOUNT ADJUSTMENTS: View | PDF Download
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ADMISSION OF A PARTNER: View | PDF Download
RETIREMENT OF PARTNER: View | PDF Download
DEATH OF PARTNER: View | PDF Download
ACCOUNTING FOR SHARES : View | PDF Download
DISSOLUTION OF PARTNERSHIP FIRM : View | PDF Download
VALUATION OF GOODWILL WITH SOLUTION: View | PDF Download
FORMAT OF FINAL ACCOUNT : View | PDF Download
INTRODUCTION TO PARTNERSHIP: View | PDF Download
DISSOLUTION OF PARTNERSHIP FIRM
VALUATION OF GOODWILL WITH SOLUTION
ACCOUNTS BOARD PAPERS WITH SOLUTION
MARCH 2014, OCTOBER 2014, MARCH 2015, JULY 2015, MARCH 2016, JULY 2016.JULY 2017, MARCH 2017, MARCH 2018, JULY 2018 MARCH 2019 MARCH 2020
IMPORTANT PRACTICE PAPER FOR BOARD EXAM 2020
SELECT THE MOST APPROPRIATE ALTERNATIVE
