TS Grewal Solutions for Class 11 Accountancy Chapter 20 – Financial Statements of Not-for-Profit Organisations

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Question 6.
Show how are the following items dealt with while preparing the final accounts for the year ended 31st March,2016 of a Not – For – Profit Organisation:
Case 1: Expenditure on construction of Pavilion is Rs.6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2015 is 20,00,000
Case 2: Expenditure on construction of Pavilion is Rs.6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March 2015 is Rs.10,00,000 and capital Fund as at 31st March, 2015 is Rs.20,00,000.
Case 3. Expenditure on construction of Pavilion is Rs.6,00,000. The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2015 is Rs.10,00,000 and Capital Fund as at 31st March, 2015 is Rs.20,00,000. Donation Received for Pavilion on 1st Janurary,2016 is Rs.5,00,000
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Question 7.
How is Entrance Fees dealt with while preparing the final accounts for the year ended 31st March, 2016 in each of the following alternatives cases?
Case 1. During the year 2015-16, Entrance Fees received was Rs.1,00,000.
Case 2. During the year 2015-16, Entrance Fees received was Rs.1,00,000. Out of this Rs.25,000 pertains to the year 2016 – 17
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Question 8.
In 2015 -16, the subscriptions received by the Jaipur Library were Rs.42,000. These subscriptions include Rs.1,400 received for 2014-15. On 31st March, 2016 subscriptions due but not received were Rs.1,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2016 as subscriptions?
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Question 10.
In 2015-16, subscriptions received by King Club of Delhi were Rs.40,900 including Rs.500 fort 2014-15 and Rs.1,000 for 2016-17. At the end of 2015-16, subscriptions outstanding for 2015-16 were Rs.1,500. The subscriptions due but not received at the end of the previous year, i.e., 31st March, 2015 were Rs.800, while subscriptions received in advance on the same date were Rs.1,800.
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the- year ended 31st March, 2016.
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Question 13.
There were 450 members in a club each paying an annual subscription of Rs.50. Rs.500 were in arrears as at 31st December, 2012. Subscriptions received during 2013 were Rs.22,300 including Rs.450, for 2012 and Rs.750 for the year 2014. Calculate amount of subscriptions in arrears as at 31st December, 2013 by preparing the Subscriptions Account.
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Question 27.
The book value of furniture on 1st April, 2015 is Rs.6,000. Half of this furniture is sold for Rs.2,000 on 30thSeptember, 2015. Depreciation is to be charged on furniture @ 10% p.a. Calculate loss on sale of furniture. Show how on sale and depreciation on furniture will be shown in the Income and Expenditure Account for the year ended 31st March, 2016.
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Question 28.
Delhi Youth Club has furniture at a value of Rs.2,20,000 in its book on 31st March,2015.. It sold old furniture, having book value of Rs.20,000 as at 1st April, 2015 at a loss of @20% on 31st December, 2015. Furniture is to be depreciated @10% p.a. Furniture costing Rs.1,50,000 was also purchased on 1st October, 2015.
Prepare Furniture Account for the year ended 31st March, 2016
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