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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Book Back 3 Mark Questions with Solution Part - I Question Bank Software Jun-02 , 2021

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12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Book Back 3 Mark Questions with Solution Part - I

12th Standard English Medium Accountancy Subject Accounts of Not-For-Profit Organisation Book Back 3 Mark Questions with Solution Part - I

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 15

    Part I

    5 x 3 = 15

  1. How annual subscription is dealt with in the final accounts of not–for–profit organisation?

  2. From the information given below, prepare Receipts and Payments account of Kurunji Sports Club for the year ended 31st December, 2018.

    Particulars Rs. Particulars Rs.
    Cash in hand (1.1.2018 4,000 Paid for printing charges 2,500
    Salaries paid 3,000 Lockers rent received 1,000
    Life membership fees received 10,000 Tournament receipts 14,000
    Subscription received 15,000 Tournament expenses 10,500
    Rent received 2,000 Investments purchased 25,000

    (Hint: Wages yet to be paid is a non cash item. Hence, it is excluded in receipts and payments account) 

  3. How the following items will appear in the final accounts of a club for the year ending 31st March 2019?

    Dr. Receipts and Payments Account for the year ended 31st March, 2019 Cr.
    Receipts Rs. Rs. Payments Rs.
    To Subscription        
    2017-2018 10,000      
    2018-2019 50,000      
    2019-2020 5,000 65,000    
             

    There are 200 members in the club each paying an annual subscription of Rs. 400 per annum. Subscription still outstanding for the year 2017- 2018 is Rs. 2,000.

  4. How will the following appear in the final accounts of Marthandam Women Cultural Association?

      Rs
    Stock of sports materials on 1.4.2018 16,000
    Sports materials purchased during the year 84,000
    Stock of sports materials on 31.3.2019 10,000

  5. How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?

    Particulars Rs.
    Tournament fund on 1st April 2018 90,000
    Tournament fund investment on 1st April 2018 90,000
    Interest received on tournament fund investment 9,000
    Donation to tournament fund 10,000
    Tournament expenses 60,000

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