Non-profit organizations prepare all of the following accounts except the

When cash is received for life membership, which one of the following double entries is passed?

Which of the following is regarded as apt to show the purchase of a fixed asset?

The balance sheet of a non-profit organization such as a charitable hospital doesn’t contain the

Income and expenditure accounts show

Investment in sinking fund by a non-profit organization is a/an

In non-profit accounting, the sale of old newspapers is generally considered as a/an

State the meaning of ‘Not- for- Profit’ Organisations.

State the meaning of Income and Expenditure Account.

What are the features of Receipt and Payment Account?

What is subscription? How is it calculated?

What is Capital Fund? How is it calculated?

From the Receipt and Payment Account given below, prepare the Income and Expenditure Account of Clean Delhi Club for the year ended March 31, 2017.

From the following Receipt and Payment Account for the year ending March 31, 2015 of Negi's Club, prepare Income and Expenditure Account for the same period:

The following additional information is available:
(i) Salaries outstanding – Rs. 1,500;
(ii) Entertainment expenses outstanding – Rs. 500;
(iii) Bank interest receivable – Rs. 150;
(iv) Subscriptions accrued – Rs. 400;
(v) 50 per cent of entrance fees is to be capitalised;
(vi) Furniture is to be depreciated at 10 per cent per annum.

Extract of a Receipt and Payment Account for the year ended on March 31, 2015:
Payments:
Stationery Rs. 23,000
Additional Information

As at March 31, 2015 the following balances have been extracted from the books of the Indian Chartered Accountants Recreation Club and you are asked to prepare (1) Trading Account for ascertaining gross profit derived from running restaurant and dining room and (2) Income and Expenditure Account for the year ended March 31, 2017 (3) and a Balance Sheet as at that date.

On March 31, 2016 stock of restaurant consisted of Rs 900 and Rs 60 respectively. Provide depreciations Rs 60 on fixtures and fittings, Rs 390 on billiard table and Rs 560 on furniture.