Statements of Non-Profit Organisations 679 From the following details, prepare a Receipts and Payments Account and an Income and
Q.12. Universal Brotherhood Club does not maintain complete double entry books of accounts. Expenditure Account for the year ending 31st December, 1999 and a Balance Sheet as on that date: Outstanding subscriptions Advance subscriptions Outstanding Salaries Salary advance Cash in hand and at Bank 1.1.'99 31.12.199 ₹ ₹ 14,000 19,600 2,800 5,600 1,400 700 700 14,000 ? 14.000 7,000 2,800 1,400 5% Investments Furniture Sports goods 5,600 11,200 Subscriptions for the year amounted to 70,000. Salaries paid 15,400. Face value of Investments was 16,800. 50% of Investments was sold at 80% of face value . Interest on Investments left unsold was received. 1,400 furniture was sold for 700 at the beginning of the year. Sports goods were purchased at the end of the year. Charge 20% depreciation on sports goods and 10% on furniture. Sports expenses amounted to 14,000 . Miscellaneous expenses are 4,200 and rent amounts to 8,400.
(C.U. B.Com. (Hons.) 2000]​