Bills of Exchange — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

The following are the details of Subscription, as per Receipts and Payments Account. Subscription received during the year 2018 - 19 ₹ 50,000 Subscription outstanding on 31st March 2018 ₹ 10,000. Subscription outstanding on 31st March 2019 ₹ 20,000. Subscription received in advance as on 31st March 2018 ₹ 15,000. Subscription received in advance as on31st March 2019 ₹ 10,000
You are required to show its presentation in Income and Expenditure Account for the year
ended 31st March 2019 and a Balance Sheet as on that date.

From the following Receipts and Payments Account of Bahurao Patil Polytechnic College, Nagpur for the year ending 31st March 2019 and additional information. Prepare Income and Expenditure Account for the year ended 31st March 2019 and a Balance Sheet as on that date.

Dr.	Receipts & Payments Account for the year ended 31st March 2019		Cr.
Receipts	Amount ₹	Payments	Amount ₹
To Balance b/d		By Salaries to teaching staff	15,00,000
Cash	12,000	Office Staff	8,55,000
Bank	2,00,000	By Printing & Stationery	27,000
To Interest	60,000	By Books	88,000
To Donations	7,00,000	By Furniture	78,000
To Tution fees	15,00,000	(Purchased on 1-1-2019)
To Admission fees	65,000	By Drama Expenses	90,000
To Term fees	4,00,000	By Postage	7,000
To Drama Receipts	1,00,000	By Telephone Charges	6,000
To Rent from use of hall	6,000	By Electricity	61,000
To Legacies (capital)	60,000	By Magazines and Newspaper	6,000
		By Balance c/d
		Cash	62,000
		Bank	3,23,000
	31,03,000		31,03,000

Additional Information :
1)

Particulars	1/4/2018(₹)	31/3/2019(₹)
Books	9,00,000	8,88,000
Furniture	3,26,000	3,00,000
Building Fund	8,27,000	?
Capital Fund	6,11,000	?

2) 60 % Donations are for Building Fund and balance is to be treated as revenue income.
3) Outstanding office staff Salaries ₹ 70,000.

Dr. Abhinav Bharat started practice of Medical Practitioner on 1st April 2019, He gives you the Receipts and Payments Account for the year ended 31st March 2020 and the adjustments.
Prepare Income and Expenditure Account and Balance Sheet for the year ended 31st March
2020.

Dr.	Dr. Abhinav Bharat Receipts and Payments Account for the year ended 31st March 2020		Cr.
Receipts	Amount ₹	Payments	Amount ₹
To Cash introduced	25,000	By Furniture	8,000
To Visit fees	10,000	By Equipments	10,000
To Receipts from Dispensary	30,000	By Drugs	7,000
To Sundry Receipts	5,000	By Salaries	12,000
		By Rent	6,000
		By Conveyance	4,000
		By Stationery	500
		By Electrical Charges	5,000
		By Journals	500
		By Drawings	2,000
		By Balance c/d
	70,000		70,000

Additional Information :
1) Receipts in Arrears are Visit Fees ₹ 2,000 and Dispensary ₹ 500
2) Outstanding Expenses - Rent ₹ 500 and Salaries ₹ 1,000
3) Stock of drugs was ₹ 1,000
4) Depreciate Furniture @ 8 % p.a. and Equipments ₹ 500.
5) 40% of conveyance are for domestic purpose.

For considering adjustments relating to subscription only

Receipts and Payments Account
for the year ended 31st March 2018

Dr.					Cr.
Receipts	Amount ₹	Amount ₹	Payments	Amount ₹	Amount ₹
To Subscription
2016-17	1,500
2017-18	80,000
2018-19	3,500	85,000

Adjustments :
1) Subscription outstanding for current year was ₹ 7,000
2) Outstanding subscription for 2016 - 17 was ₹ 2,000 Subscription received in advance during
last year was ₹ 8,000.
With the help of above information show the effects in final account.