NPO QUESTIONS FOR PRACTISE

1OMTEX CLASSES "The home of success"

Q 1. From the following Receipts and payments Account of Western Gymkhana for the year ended
31st March 2007 and other information , prepare Income and Expenditure Account for the year ended and Balance Sheet as on that date.

Receipts	Amt. Rs	Payments	Amt. Rs
To Balance b/d	1,040	By Salaries	1,300
Subscription		By Entertainment Expenses	645
2006	85	By Electric Charges	234
2007	4,000	By General Expenses	350
2008	103	By Rates and taxes	120
To Donations	1,200	By Investments	3,000
To Entertainment Receipts	876	By Stationery and printing	241
To interest	81	By Expensesof 2006	600
To Entrance Fees	1,000	By Fixed Deposit	1,000
		By balance c/f	895
	8,385		8,385

1. The Gymkhana has 450 members paying an annual subscription of
   Rs 10 each. Rs. 20 is still in arrears towards subscrption for the year 2006.
2. Carry forward Rs. 20 for rates paid in advance.
3. Provide Rs. 200 for salaries outstanding.
4. The Gymkhana owns land & Building standing in the books of Rs. 15,000
   and Furniture standing at Rs.1,150,
   on which depreciation at 5% and 15% respectively is to be written off.
5. Interest for 3 months at 12% p.a. is accured onInvestments.
6. The Capital Fund as on 1.4.2006 was Rs.16,695.
7. 50% of the entrance fees are to be capitalised.
8. Donations are to be capitalised.

Q 2. From the following information, Prepare Income and Expenditure Account
for the year ended 31st March 2008 and Balance sheet as on that date.

1. The Society has 1,500 members, each paying annual subscription of Rs. 12.
2. Subscription of Rs. 100 pertaining to the year 2006-2007 are still in arrears.
3. Value of Stationery at hand on 31st March 2007 was Rs. 200 and on 31st March 2008 was Rs.150.
4. Entrance Fees are to be treated as Capital receipts.
5. Salary of Rs. 700 for Current year is Unpaid.
6. Balance as on 31st March 2007: Investment Rs.4,500 Building Rs. 25,000 Furniture Rs.200.
7. Depreciate Building by 2.5% and Furniture by 5%.

Receipts	Amt. Rs	Payments	Amt. Rs
To Cash in hand(1.4.2007)	1,750	By Bank overdraft	2,500
To Subscriptions:-		By Salaries	5,300
2006-2007	150	By Furniture	2,000
2007-2008	14,100	By Investments in Securities	4,000
2008-2009	75	By printing and Stationery	800
To proceeds from Drama	2,500	By Cost of Staging Drama	1,500
To Entrance Fees	800	By Sundry Expenses	1,300
To Interest on Securities	500	By Cash at Bank	2,500
To Sale of old Furniture	200	By cash in Hand	175
	20075		20075

Q 3 The following is the Receipts and payments Account of the Dostana Club 
for the year ended 31st March 2007

Receipts	Amt. Rs	Payments	Amt. Rs
To Bank Balance b/d	1,020	By salaries	4,160
To Entrance Fees	1,000	By Rent	1,860
To Subscription:-		By Electricity	1,280
2005-2006	250	By Postage and Stationery	330
2006-2007	3050	By Insurance Premium	180
2007-2008	350	By General Expenses	460
To Sale of Investment	7,500	By New Furniture(31.03.2007)	4,500
To 15% p.a. Loan from Mr Varma	2,000	By Balance at bank	2,400
	15,170		15,170

1. The following information is also available:

	31/03/2006	31/03/2007
Rent Due	180	360
Electricity Due	640	200
Insurance paid in Advance	50	70
Subscription Due	250	400

2. The Cost of Investments, which are sold out, was Rs. 5,000 only.
3. Furniture was valued at Rs. 3,000 on 31st March 2006 On 1.10 2006
   The Club purchased Additional Furniture at a cost of Rs. 5,200.
   Depreciation @ 15% p.a.is to be provided on all Furniture.
4. The Entrance Fees are not to be Capitalised.
5. Loan was taken on 1.10.2006.

You are required to prepare an Income and Expenditure Account for the Year ended 31.03.2007.

Q 4 Dr.Narendra commenced practice in the month of April 2007. He prepared the following 
Receipts and payments Account for the year ended 31st March 2007.

Receipts	Amt. Rs	Payments	Amt. Rs
To Cash	10,000	By Furniture	1,500
To Visits	7,000	By Equipment	2,500
To Sundry Receipts	400	By Drugs	2,000
		By Salaries	1,000
		by Rent	500
		By Conveyance	700
		By Stationery	100
		By Lighting	125
		By periodicals	100
		By Drawings	4,375
		By balance c/d	4,500
	17,400		17,400

1. Rs. 200 were to be received on Account of Visits.
2. Unpaid Salaries Rs. 200.
3. 60% of Conveyance is for private purpose.
4. Value of Druges on hand was estimated at Rs.1,000.
5. Depreciate Furniture and Equipments by 10%

Prepare Income and Expenditure A/C and Balance Sheet.

Q 5 From the following information relating to Thane Cricket Association, prepare Income and Expenditure Account for the year ended 31st March 2007 and Balance Sheet as on that date.

Receipts	Amt. Rs	Payments	Amt. Rs
To Member's Subscription	10,000	By Tournament Expenses	1,800
To Member's Admission	300	By Maintenance Charges	1,500
ToMiscellaneous Receipts	400	By Rates and Insurance	600
To Hire of Ground	1,000	By Telephone	150
To Subscription for Tournments	3,000	By printing and Stationery	300
Cash Drawn from Bank	6,000	By General Charges	500
To Donation for prize Fund	10,000	by Honorarium to Secretary	1,300
		By Fixed Deposit in Bank	6,000
		By Investment	9,550
		By Sports Equipment	2,000
		by payment into Bank	7,000
	30,700		30,700

Assets on 1st April 2006 were:
Sports Equipments Rs.3,000 Cash at Bank Rs.6,000 Prepaid Insurance Rs.200 
Subscription due to the Association Rs.600
Liabilities as on 1st april 2006
Printing and Stationery Rs.100 Honorarium to Secretary Rs. 100
You are furnished the following further information
Donation Rs.10,000 should be kept in a separate account. Subscription received for the year 2007-2008 are Rs. 1,000 while Subscription outstanding 31st March 2007 Rs.400
Investments are of the face value of Rs. 10,000 were purchased on 1st October 2006 
Interest on Investment @ 12% p.a. has accrued Due.Write off 50% of Sports Equipments. Prepaid Insurance amounts to Rs. 250 and Secretary is to be given bonus of Rs.500.

Q 6 From the following Receips and payments Account of a Credit Club and the other information,Prepare Income and Expenditure Account for the year ended 31st March 2004 and Balance Sheet as on that Date.

Receipts	Amt. Rs	Payments	Amt. Rs
To Balance Cash	352	By crockery	265
To Bank Current A/C	2,738	By Maintenance	682
To 6% Fixed Deposit(1/4/2003)	3,000	By Match Expenses	1,324
To Subscription		By salaries	1,100
(Including Rs. 600 of 2002-2003)	4,000	By Conveyance	82
To Entrance Fees	275	By Upkeep of Lawn	424
To Donation	501	By postage Stamp	105
Interest on F.D.	90	By Cricket Materials	972
To Turnament Fund	2,000	By sundries	200
To Sale of Crockery	200	By Investment	570
(Book Value Rs. 120)		By Tournament Expenses	1,880
		By Cash in Hand	220
		By Current Account	2,332
		By Fixed Deposit	3,000
	13,156		13,156

Additional Information:-Monthly Salary is Rs.100

	31/03/2003	31/03/2004
The Value of unused Postage Stamps	75	90
Stock of Cricket Equipment	321	280
Arrears of Subscription	660	800
Outstanding Salary	300	500
Building	20,000	18,000
Furniture	8,000	7,200

Q 7 From the following Receips and payments Account of Ranade Dispensary ,Prepare Income and Expenditure Account for the year ended 31st March 2004 and Balance Sheet as on that Date.

Receipts	Amt. Rs	Payments	Amt. Rs
To balance b/d	6,000	By Creditors paid	60,000
To Subscription	1,00,000	By Printing and Stationery	3,000
To Entrance fees	18,000	By Furniture purchased	10,000
To Interest on Investment	14,000	By Honorarium to Doctor	20,000
To Charity Show Realisation	30,000	By Miscellaneous Expenses	1,000
To Outdoor patients collection	12,000	By Equipments	30,000
		By Charity Show Expenses	2,000
		By Telephone Expenses	5,000
		By Salary	45,000
		By Balance c/d	4,000
	1,80,000		1,80,000

Other Transactions

	01/04/2003	31/03/2004
Subscription Due	1,000	5,000
Subscription Received in Advance	2,000	2,500
Stock of Medicines	20,000	30,000
Value of Equipment(WDV)	42,000	???
Building (WDV)	80,000	???
Telephone Expenses Outstanding	----	1,000
Misce Exp Outstanding	500	2,200
Outstanding Printing and Stationery	300	200
Creditors	16,000	24,000
Investments	1,00,000	1,00,000
Capital Fund	2,30,200	???

Adjustments:-

1. 50% of Entrance fees are to be Capitalised.
2. Medicines purchased during the year Rs. 68,000.
3. Provide 10% Depreciation on Furniture purchased during the year Rs.12,000 on Equipments and Rs. 400 on Building.

Q 8 From the following Receips and payments Account of a Club , Prepare Income and Expenditure Account for the year ended 31st March 2004 and Balance Sheet as on that Date.

Receipts	Amt. Rs	Payments	Amt. Rs
To Balance	4,200	By Rent	14,000
To Donations	14,000	By Salary
To subscription;		2002-2003	2,800
2002-2003	2,100	2003-2004	8,400
2003-2004	39,900	By Sports Material	12,600
2004-2005	2,800	By Interest(6% Loan)	1050
Interest on Match Fund Investment	2,800	By Match Expenses	5,600
To Entrance Fees	9,800	By Newspapers	1,400
		By Balance c/d	29,750
	75,600		75,600

1. Outstanding Subscription for 2003-2004 was Rs. 2,800.
2. Entrance Fees for 2003-2004 Rs.1,400 was Outstanding.
3. Donation amount includes special Donation for Match Fund Rs. 7,000.
4. Outstanding Expenses for 2003-2004 were: Rent Rs. 1,400 Salary Rs. 2,800 and Repair Rs. 700.
5. On 1st April 2003 Club had: Building Rs. 28,000: Sports Materials Rs. 14,000: Furniture 
   Rs. 14,000: Match Investment Rs. 21,000.Match Fund Rs. 21,000.Loan Taken is Rs. 17,500
6. Interest accrued on loan Rs. 700 was Outstanding for the year 2003-2004
7. Sports Materials were valued at Rs. 17,500 on 31/03/2004
8. Capital Fund Opening Balance was Rs. 42,000.
9. Treat Entrance Fees as Income.