Professional Documents
Culture Documents
ANDHRA PRADESH
CCP302.70
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Recap
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Preparation of Income and Expenditure
Account from list of balances
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Example 1:
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Receipts Rs. Payments Rs.
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Solution: Citizen Club
Income and Expenditure Account for the year ending 31st Oct, 1984
Expenditure Rs. Income Rs.
To Honorarium to Secy. 11,000 By Subscription 62,130
Add: O.S (12,000 – 11,000) Add : O.S at the end of 1984
1,000 12,000 2,940
To Rent 2,400 65,070
To Rates & Taxes 3,780 Less: O.S at the beginning of
To Printing & Stationery 1,410 1983 3,600
To Sundry Expenses 5,350 By fair Receipts 61,470
To Wages 2,520 By variety show 7,200
To Fair Expenses 7,170 By Interest 12,810
To Repairs 960 By Profit on Bar(1) 690
To Depreciation By Profit on Sale of 6,000
Premises 3,030 Car (2)
Car 9,360 12,390 3,300
To Excess of Income over 43,490
Expenditure
91,470
91,470
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ASSINGMENT
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Receipts Rs. Payments Rs.
1984 Jan 1 1984 Dec 31
Cash in hand 1,000 Remuneration to Cricket Coach 4,500
Balance at Bank as per Bank Ground man’s pay 3,000
Pass Books: Purchase of Equipment and
Savings A/c 20,300 Moving Machines 15,000
Bar Room Expenses
Current A/c 6,000 2,500
Ground Rent
Dec 31 2,500
Club Night Expenses
Bank Interest 300 4,000
Printing and Stationery
Entrance Fees 2,000 2,800
Repairs of Equips. & Machinery
Donation and Subscription 26,000 Honaraira to Sec. For the year 1983 5,000
Bar Room Receipts 3,000 Balance at Bank as per Bank 4,000
Contribution to Club Nights 1,000 Pass Book:
Sale of Equipment 800 Saving A/c
Net proceed of Club Nights 7,800 Current A/c 20,900
Cash in Hand 1,500
2,500
68,200 68,200
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Additional information:
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6. For the year ended Dec 31st, 1984, the honorarium
to the secretary are tobe increased by a total of
Rs. 2,000 and the ground man to receive a bonus
of Rs.2,000.
7. Capitalize entrance fees
You are required to prepare:
An Income and Expenditure Account for the year
ended December 31st,1984;
Ans. Excess of Income Rs.1,500
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(2) Following is the Receipts and Payments
Account of the Delhi Club for the year
ended 31st December,1984.
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Receipts Rs Payments Rs
As on 31st As on 31st
Dec., 1983 Dec.,1984
Rs Rs
(d) Subscription receivable 1,000 ?
(e) Subscription receivable in advance 200 100
(f) Salary to staff outstanding 2,000 1,000
(g) Canteen Expenses prepaid 1,000 500
(h) Furniture etc., 10,000 ?
(i) Construction Expenses
outstanding 2,000
(e) Subscription due for the year 1984 was 5,500
(l) The book value of furniture sold was 3,000
(m) Charge Depreciation on furniture at 10%
on the closing net balance.
Ans. Excess of Expenditure Rs.7,200/-
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3)The following were the assets of National Club on 1-
1-1969
Rs. Rs.
Library 5,000 Furniture 1,000
Sports Material 2,000 Income due to the Club
Fixed Deposit with SBI for use of Lecture Hall 400
10,000 Cash in Hand 200
Subscription due 400
The following was an extract of the Cash Book for the year
ending 31-12-1969.
CONTD.
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Receipts Rs. Payments Rs.
To Balance 200 By Library Books 1,500
To Cash at Bank By Printing and Stationery 300
(Fixed Deposits) 10,000 By Magazine Expenses 700
To Subscriptions 8,800 By Rent 1,030
To Donations 2,000 By Purchase of Investment 3,000
To Sale of Magazines 500 By Staff Salaries 1,200
To Advertisements in By Honorarium to Secretary 500
Club Magazines 750 By Advertisements 100
To Rent of Lecture Hall 1,500 By Charity 50
To Interest on Fixed By Musical Evenings 100
Deposits 400 By Annual Social 500
To Entertainment 2,000 By Cash on Hand 7,200
To Sale of old furniture 300 By Fixed Deposits 10,000
26,450 26,450
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CONTD.
Additional Information
Subscriptions owing for the current year amounted to
Rs.500.Interest accruing on investments came to Rs.
150, Rs. 60 had to be paid towards salaries. Rent
incurred for the current year was actually Rs. 1,100.
You are required to prepare the Income and
Expenditure Account for the year ending 31-12-1969.
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• Given below is the receipts and payments account
of the Indian Sports Club for the first year ended
31st Dec. 1971. Prepare there from and additional
details given an Income and Expenditure Account
CONTD.
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Subscriptions due Rs.1,120 to be taken at 75%.
salaries unpaid Rs.125. Insurance paid is for the
one year commencing from 1-7-1971. Write off
Rs. 1000 as depreciation on building and Rs. 50
on furniture. One half of the entrance fees are to
be capitalized.
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Receipts Rs. Payments Rs.
To subscription including By Buildings 62,000
Rs. 500 for 1972 8,600 By Salary 1,025
To Lockers Rent 320 By Tennis 1,315
To Interest 140 By Insurance 120
To Sale of Cricket Material 130 By Furniture 1,520
To Sundry Receipt 20 By Printing 715
To Tennis Fees 1,350 By Expenses of Matches 8,770
To Billiards Fees 310 By Garden Expenditure 900
To Receipts from Matches 9.900 By Billiard Table (New) 2,000
To Entrance Fees 4,220 By Telephone 237
To Special donation for By Sundry Expenses 303
Building fund 60,000 By Newspaper subscription
300
paid upto 31-3-72 140
By Advance to Clerk 5,225
By Purchase of 420
investments
84,990 84,990
By Balance
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QUIZ
1) Capitalized Entrance fees of a Non – Trading
companies appears in
a) Balance Sheet
b) Income and Expenditure Account
c) Receipts and Payments Account
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Assignment
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