From the following particulars of Evergreen club, prepare Receipts and payments Account for the year ended 31^stMarch,2019:

(₹)

(₹)

Cash in Hand on 1stApril,2018 50,000 Newspaper and Magazines 87,000

Cash at Bank on 1st April,2018 3,40,000 Sale of Old Newspaper 12,000

Subscriptions Received 15,70,000 Books Purchased 3,40,000

Donations Received 2,80,000 Sports Materials Purchased 4,70,000

Investments purchased 5,00,000 Interest on Investments Received 50,000

Rent paid 50,000 Honorarium to coaches 1,50,000

General Expenses 2,30,000 Cash in Hand on 31st March,2019 30,000

Postage and stationery 25,000 Cash at Bank on 31st March ,2019 ?

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Solution

Books of Evergreen Club

Receipts and Payments Account

for the year ended March 31, 2019

Dr.

Cr.

Receipts

Amount

(₹)

Payments

Amount

(₹)

Balance b/d

Investments Purchased

5,00,000

Cash in Hand

50,000

Rent Paid

50,000

Cash at Bank

3,40,000

3,90,000

General Expenses

2,30,000

Subscription Received

15,70,000

Postage and Stationery

25,000

Donation Received

2,80,000

Newspapers and Magazines

87,000

Sale of Old Newspapers

12,000

Books Purchased

3,40,000

Interest on Investments Received

50,000

Sports Material Purchased

4,70,000

Honorarium to Coacher

1,50,000

Balance c/d

Cash in Hand

30000

Cash at Bank (Balancing Figure)

4,20000

4,50,000

23,02,000

23,02,000

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	₹		₹
Cash in Hand on 1_^stApril,2017 Cash at Bank on 1_^stApril,2017 Subscriptions Received Donations Received Investments purchased Rent paid General Expenses Postage and stationery	50,000 3,40,000 15,70,000 2,80,000 5,00,000 50,000 2,30,000 25,000	Newspaper and Magazines Sale of Old Newspaper Books purchased Sports Materials Purchased Interest on Investments Received Honorarium to coaches Cash in Hand on 31st March,2018 Cash at Bank on 31 st March ,2018	87,000 12,000 3,40,000 4,70,000 50,000 1,50,000 30,000 ?

RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2019
Dr.				Cr.
Receipts	₹	Payments	₹
To Balance b/d (cash)	1,50,000	By Salaries and Wages	1,60,000
To Subscriptions		By Office Expenses	35,000
2016-2017	60,000	By Sports Equipments	3,40,000
2018-2019	3,50,000	By Telephone Charges	24,000
To Donations	50,000	By Electricity Charges	32,000
To Entrance Fees	80,000	By Travelling Expenses	65,000
		By Balance c/d (Cash)	34,000

	6,90,000		6,90,000

RECEIPTS AND PAYMENTS ACCOUNT for the year ended March 31st March, 2019
Dr.					Cr.
Receipts		₹	Payments	₹
To Balance b/d		2,00,000	By Rent	60,000
To Entrance Fees:			(including ₹15,000 for 2017 – 18)
2017 – 18	10,000		By Insurance Premium	60,000
2018 – 19	50,000	60,000	(including ₹15,000 for 2019 – 20)
To Subscriptions:			By Sports Equipments	50,000
2017 – 18	10,000		By Furniture	60,000
2018 – 19 (90%)	90,000		(Purchased on 31st March, 2019)
2019 – 20	5,000	1,05,000	By 8% Fixed Deposit	1,20,000
To Life Membership Fees		20,000	(Made on 1st October, 2018)
To Donations		1,20,000	By Tournament Expenses	10,000
To Donation for Tournament		50,000	By Books	20,000
To Subscription for Governor's Party		15,000	By Newspapers	1,000
To Interest on 8% Fixed Deposit		2,400	By Printing and Stationery	19,000
To Sale of Old Newspapers		300	By Balance c/d	1,80,000
To Sale of Old Sports Materials		500
(Book Value ₹ 1,200)
To Locker Rent		6,800
(including ₹ 600 for 2017 – 18)

		5,80,000		5,80,000

RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2018
Dr.				Cr.
Receipts	₹	Payments	₹
To Balance b/d (cash) To Subscriptions 2016-2017 2017-2018 To Donations To Entrance Fees	1,50,000 60,000 3,50,000 50,000 80,000	By Salaries and Wages By Office Expenses By Sports Equipments By Telephone Charges By Electricity Charges By Travelling Expenses By Balance c/d (Cash)	1,60,000 35,000 3,40,000 24,000 32,000 65,000 34,000


	6,90,000		6,90,000

—

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RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2019
Dr.				Cr.
Receipts	₹	Payments	₹
To Balance b/d (Cash)	18,000	By Building	4,00,000
To Donations for Building	4,50,000	By Project Expenses	90,000
To Donations	50,000	(Young Talent Search and Development)
To Government Grant	1,00,000	By Match Expenses	90,000
(Young Talent Search and Development)		By Furniture	1,21,000
To Life Membership Fees	40,000	By 10% Investments	1,60,000
To Match Fund	80,000	(Purchased on 1st July, 2018)
To Subscriptions	52,000	By Salaries	70,000
To Locker Rent	4,000	By Insurance	3,500
To Interest on Investments	10,000	By Sundry Expenses	4,700
To Sale of Furniture	1,00,000	By Closing c/d (Cash)	4,800
(Book value ₹ 80,000)		By Bank (Young Talent	10,000
To Entrance Fees	50,000	Search and Development


	9,54,000		9,54,000

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	(₹)		(₹)
Cash in Hand on 1stApril,2018	50,000	Newspaper and Magazines	87,000
Cash at Bank on 1st April,2018	3,40,000	Sale of Old Newspaper	12,000
Subscriptions Received	15,70,000	Books Purchased	3,40,000
Donations Received	2,80,000	Sports Materials Purchased	4,70,000
Investments purchased	5,00,000	Interest on Investments Received	50,000
Rent paid	50,000	Honorarium to coaches	1,50,000
General Expenses	2,30,000	Cash in Hand on 31st March,2019	30,000
Postage and stationery	25,000	Cash at Bank on 31st March ,2019	?

Books of Evergreen Club
Receipts and Payments Account for the year ended March 31, 2019
Dr.						Cr.
Receipts		Amount (₹)	Payments		Amount (₹)
Balance b/d			Investments Purchased		5,00,000
Cash in Hand	50,000		Rent Paid		50,000
Cash at Bank	3,40,000	3,90,000	General Expenses		2,30,000
Subscription Received		15,70,000	Postage and Stationery		25,000
Donation Received		2,80,000	Newspapers and Magazines		87,000
Sale of Old Newspapers		12,000	Books Purchased		3,40,000
Interest on Investments Received		50,000	Sports Material Purchased		4,70,000
			Honorarium to Coacher		1,50,000
			Balance c/d
			Cash in Hand	30000
			Cash at Bank (Balancing Figure)	4,20000	4,50,000
		23,02,000			23,02,000