(Accounts of a Charitable Hospital) 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.

6. 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.

 

Dr.                                                                                                                                   Cr. 

Receipts  

Amt ₹ 

Amt ₹ 

Payments 

Amt ₹ 

Amt ₹ 

To Balance c/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 Equipment  

 

10,000 

 

 

96,260 

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 

  1. Subscription Received in Advance  

600 

150 

  1. Stock of Medicines 

8,000 

11,000 

  1. Estimated Value of Equipment 

15,000 

? 

  1. Building  

40,000 

? 

  1. Capital Fund 

1,70,940 

? 

  1. 10% Investment 

1,00,000 

? 


Provide Depreciation on Equipment ₹ 1,900 and on Building₹ 1,500

Solution: /span>

In the Books of "Rdha-Krishna Charitable Hospital"

Income and Expenditure Account for he year 31.03.2020

 

Dr.                                                                                                                                             Cr. 

Expenditure 

Amount 

Amount 

Income 

Amount 

Amount 

To Medicine year consumed during purchase 

 

 

41,000 

 

By Subscription 

(+) Outstanding Sub. (CY) 

(-) Outstanding Sub. (LY)  

52,000 

350 

310 

 

(+) Opening Stock 

8,000 

 

(+) Prepaid Sub. (CY) 

600 

 

(-) Closing Stock 

11,000 

38,000 

(-) Prepaid Sub. (LY) 

150 

52,490 

To General Expense 

 

1,050 

By Donation  

 

17,500 

To salaries 

 

23,500 

By Interest on Investments 

 

10,000 

To stationery 

 

2,000 

By Proceed from charity show 

 

8,530 

To Surgery and Dispensary exp 

 

550 

 

 

 

To Depreciation on 

 

4,200 

 

 

 

Equipment 

1,500 

 

 

 

 

Building 

1,900 

3,400 

 

 

 

 

 

 

 

 

 

To Surplus 

 

15,820 

 

 

 

 

 

87,620 

 

 

87,620 




Explanation:
01.04.2019 is the Opening date And 31.03.2020 is the closing date
Depreciation on Equipment and Building 
In the Receipts and payment Account Equipment is 10,000 and in Additional information is 15,000. the 10,000 ₹ equipment is the new equipment purchased during the year and in additional information equipment is last years.

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