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Question

Spaceship of Sunita Williams took off on:

A
9 December 2006
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B
9 December 2006
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C
9 December 2007
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D
9 November 2006
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Solution

The correct option is A 9 December 2006
Spaceship of Sunita Williams took off on 9 December 2006

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Q.

Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2006:

Receipt and Payment Account for the year ending December 31, 2006

Receipts

Amount

Rs

Payments

Amount Rs

Balance b/d

7,890

Salary

11,000

Subscriptions

52,000

Electric charges

5,500

Life member ship fee

2,200

Billiard Table

17,500

Entrance fee

3,200

Office expenses

4,100

Tournament fund

26,000

Printing and Stationery

2,300

Locker Rent

1,250

Tournament expenses

18,500

Sale of old sports goods (Costing Rs 2,200)

2,500

Repair of ground

2,000

Sale of Old Newspaper

750

Furniture purchased

7,700

Legacy

37,500

Sports equipments

12,000

Cash in Hand

12,690

Cash at Bank

10,000

Fixed Deposit (on 1.10.06 for 10% p.a)

30,000

1,33,290

1,33,290

Other Information:

Subscription outstanding was on December 31, 2005 Rs 1,200 and Rs 3,200 on December 31, 2006. Locker rent outstanding on December 31, 2006 Rs 250. Salary outstanding on December 31, 2006 Rs 1,000.

On January 1, 2006, club has Building Rs 36,000, furniture Rs 12,000, Sports equipments Rs 17,500. Depreciation charged on these items @ 10% (including Purchase).

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