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Accounts of Not-For-Profit Organisation — Accountancy STD 12 — Question

Tamilnadu BoardEnglish MediumSTD 12AccountancyAccounts of Not-For-Profit Organisation3 Marks
Question
Particulars ₹
Subscription received during 2013-14 50,000
Subscription outstanding on 31.3.13 20,000
Subscription outstanding for 13-14 6,000
Subscription received in Advance on 31.03.13 8,000
Subscription received in Advance on 31.03.14 9,000
Subscription of ₹ 9,000 is still in arrears for the year 2012 – 13. Prepare Income and Expenditure Account for 2013 – 2014.
✓

Answer

Income and Expenditure Account for the year 31.03.14
Expenses ₹ Incomes ₹ ₹
Subscription50,000
(+) Outstanding 2013-14 6,000
2012-13 9,000
15,000
Subs. Recd in Adv
31.3 .13 8,00023,000
73,000
(-)O//s. sub in beginning 20,000
(+) Adv. in End 31.3.14 9,000
29,00044,000

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