From the following details calculate the amount that will be shown as subscription in Income and Expenditure Account for the year ending 31^st March, 2017.

Subscription received for	Rs.
2015-16	7,500
2016-17	60,000
2017-18	1,500
	69,000

Subscription outstanding for the year 2016-17 is Rs. 2,400. Subscription for 2016-17 received in 2015-16 was Rs.1,000

Compute income from subscription for the year 2018 from the following particulars relating to a club

Particulars	1.1.2018 Rs.	31.12.2018 Rs.
Outstanding subscription	10,000	7,000
Subscription received in advance	3,000	5,000

Subscription received during the year 2018: Rs.1,50,000

How will the following items appear in the final accounts of a sports club?

Particulars	Rs.
Stock of sports materials (01.04.2018)	3,000
Sports materials purchased during current year	9,000
Sale of old sport materials during current year	500
Stock of sports materials (31.03.2019)	4,000

What is receipts and payments account?

Give four examples for capital receipts of not–for–profit organisation.

Give four examples for revenue receipts of not–for–profit organisation.

From the following particulars, show how the item ‘subscription’ will appear in the Income and Expenditure Account for the year ended 31-12-2018? Subscription received in 2018 is Rs.50,000 which includes Rs.5,000 for 2017 and Rs.7,000 for 2019. Subscription outstanding for the year 2018 is Rs 6,000. Subscription of Rs.4,000 was received in advance for 2018 in the year 2017.

Compute capital fund of Salem Sports Club as on 1.4.2019.

Particulars	Rs.	Particulars	Rs.
Sports equipment	30,000	Prize fund	10,000
Computer	25,000	Prize fund investments	10,000
Subscription outstanding for 2018-19	5,000	Cash in hand	7,000
Subscription received in advance for 2019-20	8,000	Cash at bank	21,000

What are the features of not-for-profit organizations?

Explain the steps in preparations of receipts and payments account.

Write a note on Donations

Can the balance in receipts and payments account be treated as income of the period? If it shows credit balance  what does it mean?

Every receipt and Payments, whether capital or revenue and irrespective of the period is recorded in receipts and payments accounts why? Give reason.

Income and expenditure account of a not-for-profit organization is akin to profit and loss account of a business concern. Explain the statement.

Distinguish between income and expenditure account and profit and loss account