(Account of a School) From the following Balance sheet and Receipts and Payments Account of "New English School", Barshi, Prep[are Income and Expenditure Account for the year ending 31.03.2020 and a Balance Sheet as on that date.

11. (Account of a School) From the following Balance sheet and Receipts and Payments Account of "New English School", Barshi, Prep[are 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	Amount	Assets	Amount	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 for the year ending 31.03.2020.

Dr.                                                                                                                        Cr.

Receipts	Amt ₹	Amt ₹	Payments	Amt ₹	Amt ₹
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
		3,15,000			3,15,000

Additional Information:

1. Outstanding Salary of ₹ 9,000

2. Outstanding Tuition Fees ₹15,000

3.Depreciation 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 ending 31.03.2020

Dr.                                                                                                                                      Cr.

Expenses	Amount	Amount	Assets	Amount	Amount
To Salary	90,000		By Tuition Fees	90,000
(+) Outstanding Salary	9,000	99,000	(+) Outstanding Tuition fees	15,000	1,05,000
To Office Rent		10,000	By Term fees		3,000
To Printing & Stationery		22,000	By Admission Fees		12,000
To Sundry Expenses		12,000	By Interest Receipts		2,000
To Insurance		10,200	By Govt. Grant		1,20,000
To Sports Exp.		8,000	By Sundry receipts		11,000
To Annual Gathering		9,000
To Repairs		15,000
Depreciation on Library Books	9,000
Furniture	10,000	19,000
To Surplus		48,800
		2,53,000			2,53,000

Balance Sheet as on 31.03.2020

Cr.                                                                                                                  Dr.

Liabilities	Amount	Amount	Assets	Amount	Amount
Capital Fund	6,43,000		Cash in Hand	4,800
(+) Donation	61,000		Cash at Bank	70,000	74,800
(+) Surplus	48,800	7,52,800	Building		4,50,000
			Furniture	72,000
			(+) additional	50,000
				1,22,000
Outstanding Salary		9,000	(-) Depreciation	10,000	1,12,000
			Library Books	45,000
			(+) additional	14,000
				59,000
			(-) Depreciation	9,000	50,000
			Computer Laboratory		60,000
			Tuition Fees		15,000
		7,61,800			7,61,800