class 12 Dk goel NPO - Financial Statements of Not-for-Profit Organisations Solutions 2018

Q 1.                          Income & Expenditure A/c  of

Dr                              for the year ended 31-3-16                               Cr

Income	Amount	Expenditure	Amount
Rent Salary Insurance Premium Telephone Charges Printing Surplus	48,000 2,40,000 12,600 18,200 4,100 78,500	Subscription Locker’s Rent Interest Mis. Income Income from Advertisement Entrance Fees	3,46,000 22,000 15,000 700 12,000 5,700
	4,01,400		4,01,400

Q 3.                                   Balance Sheet of

                                             as at

Liabilities	Amount	Assets	Amount
Prize Fund                                 80,000 (+) Donation                     25,000 (+) Int. on Prize Fund Inv.  6,000 (-) Prizes Given               (10,000)	1,01,000	Prize Fund Investment	60,000

Q 4.                                                    Balance Sheet of

as at

Liabilities	Amount	Assets	Amount
Tournament Fund           2,00,000 (+) Contribution received       40,000 (+) Int. on Tour. Fund Inv.      12,000 (+) Sale of Tickets                    20,000 (-) Prizes Given                      (80,000)	1,92,000

Q 5.                                                    Balance Sheet of

as at

Liabilities	Amount	Assets	Amount
Tournament Fund                   60,000 (+) Donation                             12,000 (+) Int. on Tour. Fund Inv.         4,800 (-) Expenses on Tourn.         (13,600)	63,200

Q6.                                         Memorandum Subscription  A/c

	Amount		Amount
Op. Outstanding subscription Inc. & Exp. A/c (Earned) (Balancing figure) Closing Advance Subscription	60,000 5,74,000 38,000	Op. Advance Subscription Cash (Received during the year) Closing O/s Subscription	32,000 6,00,000 40,000
	6,72,000		6,72,000

Balance Sheet of

as at 1-4-16

Liabilities	Amount	Assets	Amount
Advance Subscription	32,000	O/s Subscription	60,000

Balance Sheet of

as at 31-3-17

Liabilities	Amount	Assets	Amount
Advance Subscription	38,000	O/s Subscription	40,000

Income & Exp. A/c of

For the year ended 31-3-17

Expenditure	Amount	Income	Amount
		Subscriptions	5,74,000

Q7.                                         Memorandum Subscription  A/c

	Amount		Amount
Op. Outstanding subscription Inc. & Exp. A/c (Earned) (Balancing figure) Closing Advance Subscription	20,000 6,56,500 10,000	Op. Advance Subscription Cash (Received during the year) Closing O/s Subscription 2015-16                                      4,000 2016-17                                     25,000	7,500 6,50,000 29,000
	6,86,500		6,86,500

Balance Sheet of

as at 1-4-16

Liabilities	Amount	Assets	Amount
Advance Subscription	7,500	O/s Subscription	20,000

Balance Sheet of

as at 31-3-17

Liabilities	Amount	Assets	Amount
Advance Subscription	10,000	O/s Subscription	29,000

Income & Exp. A/c of

For the year ended 31-3-17

Expenditure	Amount	Income	Amount
		Subscriptions	6,56,500

Q8.                                         Memorandum Subscription  A/c

	Amount		Amount
Op. Outstanding subscription Inc. & Exp. A/c (Earned) (Balancing figure) Closing Advance Subscription	20,000 35,000 9,000	Op. Advance Subscription Cash (Received during the year) Closing O/s Subscription 2015-16                                      1,500 2016-17                                      4,500	8,000 50,000 6,000
	64,000		64,000

Balance Sheet of

as at 1-4-16

Liabilities	Amount	Assets	Amount
Advance Subscription	8,000	O/s Subscription	20,000

Balance Sheet of

as at 31-3-17

Liabilities	Amount	Assets	Amount
Advance Subscription	9,000	O/s Subscription	6,000

Income & Exp. A/c of

For the year ended 31-3-17

Expenditure	Amount	Income	Amount
		Subscriptions	35,000

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