From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account and Balance Sheet for the year ending March 31, 2017. Receipts Receipt and Payment Account For the year ending March 31, 2017 Rs Cash in hand as 6,800 on 1.4.16 Amount Subscription Donation 3,000 Sale of furniture 4,000 (Book value Rs 6000) Entrance fee 800 7,000 Life membership fee Interest on investment (@ 5% for full year) 60,200 5,000 86,800 Payments Salaries Traveling Expenses Stationery Rent Repair Books purchased Building purchased Amount Rs 24,000 6,000 2,300 16,000 700 6,000 30,000 Cash in hand as 1,800 31.3.2017 86,800 Additional Information: (i) Subscription received in advance (ii) Outstanding subscription (iii) Stock of stationery (iv) Books (v) Furniture 3 3 (vi) Outstanding rent As on 1.04.2016 1,000 2,000 1,200 13,500 16,000 1,000 As on 31.03.2017 3,200 3,700 800 16,500 8,000 2,000 From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account and Balance Sheet for the year ending March 31, 2017. Receipts Receipt and Payment Account For the year ending March 31, 2017 Rs Cash in hand as 6,800 on 1.4.16 Amount Subscription Donation 3,000 Sale of furniture 4,000 (Book value Rs 6000) Entrance fee 800 7,000 Life membership fee Interest on investment (@ 5% for full year) 60,200 5,000 86,800 Payments Salaries Traveling Expenses Stationery Rent Repair Books purchased Building purchased Amount Rs 24,000 6,000 2,300 16,000 700 6,000 30,000 Cash in hand as 1,800 31.3.2017 86,800 Additional Information: (i) Subscription received in advance (ii) Outstanding subscription (iii) Stock of stationery (iv) Books (v) Furniture 3 3 (vi) Outstanding rent As on 1.04.2016 1,000 2,000 1,200 13,500 16,000 1,000 As on 31.03.2017 3,200 3,700 800 16,500 8,000 2,000
Expert Answer:
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
Students also viewed these accounting questions
-
From the following Receipt and Payment Account of a club, prepare Income and Expenditure Account for the year ended March 31, 2017 and the Balance Sheet as on that date. Receipts Balance b/d Sale of...
-
Prepare Income and Expenditure Account and Balance Sheet for the year ended March 31, 2016 from the following Receipt and Payment Account and Balance Sheet of culture club: Receipt and Payment...
-
From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017. Receipts Balance b/d 2016-17 2017-18 Sale of old newspapers Sale of Old...
-
If we define the median of a sequence as a number so that exactly as many elements come before it in the sequence as come after it, fix the program in 4.6.3 so that it always prints out a median....
-
Company G received a bank statement at the end of the month. The statement contained the following: Ending balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
On March 31, 2021, Chow Brothers, Inc., bought 10% of KT Manufacturings capital stock for $50 million. KTs net income for the year ended December 31, 2021, was $80 million. The fair value of the...
-
Weibull distribution: From an analysis of wind speed data (hourly interval average, taken over a 1 year period), the Weibull parameters are determined to be \(c=6 \mathrm{~m} / \mathrm{s}\) and...
-
These financial statement items are for Major Company at year-end, July 31, 2012. Instructions (a) Prepare an income statement and an owner?s equity statement for the year. The owner did not make any...
-
Sell at Split-Off or Process Further Decision, Alternatives, Relevant Costs Vihaan Chemicals Company processes a number of chemical compounds used in disinfecting health club fitness equipment. One...
-
WW Development Inc. (WW), a real estate developer, was incorporated in Canada in 1975 by two brothers, Peter and David Wang. In the 1980s and 1990s, WW was quite successful. In early 2002, Peter and...
-
Between qualitative and quantitative forecasts, which of these is suitable for a newly launched product. Substantiate. Discuss the efficiency and effectiveness of the reverse osmosis plant and how it...
-
Is it possible for an objects velocity to be perpendicular to the objects acceleration? If so, describe the motion.
-
Consider a streamline with the properties \(M_{1}=4.0\) and \(p_{1}=1 \mathrm{~atm}\). Consider also the following two different shock structures encountered by such a streamline: (a) a single normal...
-
Some have referred to our modern world as status obsessed because we are constantly bombarded with images and posts of peers and strangers alike on social media, such as Facebook, LinkedIn, and...
-
Consider a supersonic flow with an upstream Mach number of 4 and pressure of \(1 \mathrm{~atm}\). This flow is first expanded around an expansion corner with \(\theta=15^{\circ}\), and then...
-
Consider a supersonic flow past a compression corner with \(\theta=20^{\circ}\). The upstream properties are \(M_{1}=3\) and \(p_{1}=2116 \mathrm{lb} / \mathrm{ft}^{2}\). A Pitot tube is inserted in...
-
Some production/assembly line jobs are dull and routine. This can lead to labor turnover. As a production manager, what could you do with layout design to make these jobs more attractive?Explain
-
General Electric Capital, a division of General Electric, uses long-term debt extensively. In a recent year, GE Capital issued $11 billion in long-term debt to investors, then within days filed legal...
-
Miller Corporation issued 30,000 shares of $1 par value common stock in exchange for a building with a market value of $160,000. Record the stock issuance.
-
Refer to Short Exercise SI9-10. Western desires a 20% target operating income after covering all costs. Considering the total costs assigned to the Client 76 job in Short Exercise SI9-10, what would...
-
Owner Shan Lo is considering franchising her Noodles by Lo restaurant concept. She believes people will pay $6.50 for a large bowl of noodles. Variable costs are $3.25 per bowl. Lo estimates monthly...
-
Find the steady-state response of the hydraulic control valve shown in Fig. 4.4 (a) to the forcing functions obtained by replacing \(x(t)\) with \(F(t)\) and \(A\) with \(F_{0}\) in Figs. 1.114....
-
What is the basis for expressing the response of a system under periodic excitation as a summation of several harmonic responses?
-
True or False. The change in momentum is called impulse.
Study smarter with the SolutionInn App