NPO solutions TS Grewal 2021
This page includes solutions of all the Practical problems of the chapter 1 NPO from TS Grewal 2021 edition. Topics covered under this section are:
Question 1
From the following particulars relating to Shyamji Charitable Society, prepare a Receipts and Payments Account for the year ending 31st March, 2019:
Particulars ₹ Cash in hand as on 1st April, 2018 - 16,000 Cash at bank as on 1st April, 2018 - 28,000 Subscriptions(including ₹11,000 for 2017-18) - 60,000 Donations for Building - 2,90,000 Miscellaneous Expenses - 98,000 Locker Rent - 32,000 Entrance Fees - 41,000
Question 2
Bengal Cricket Club was inaugurated on 1st April, 2020. It had the following Receipts and Payments during the year ended 31st March, 2021:
Receipts: Entrance Fees ₹10,000; Subscriptions ₹60,000; Donations ₹10,000.
Payments: Rent ₹15,000; Postages ₹1,000; Newspapers and Magazines ₹8,000; Investments ₹30,000;
Stationery ₹4,000; Entertainment Expenses ₹3,000; Miscellaneous Expenses ₹2,000.
Show the Receipts and Payments Account for the year ended 31st March, 2021.
Question 3
From the information given below, prepare Receipts and Payments Account of Railway Club for the year ended 31st March, 2020:
Question 4
The following information were obtained from the books of Delhi Club as on 31st March, 2020 at the end of the first year of the Club, prepare Receipts and Payments Account for the year ending 31st March, 2020:
Note – Club enjoys Bank Overdraft facility.
Question 5
From the following information, prepare Receipts and Payments Account of The North Sports Club for the year ending 31st March,2021:
Question 6
Following is the summary of cash transactions of Good Health club for the year ending 31st March,2018:
Question 7
State how will be the prizes awarded of ₹5,000 shown while preparing the final accounts of a club for the
year ending on 31st March, 2021.
Question 8
How are the following items presented in financial statements of a Not-for-Profit organisation?
(a) Tournament Fund – ₹80,000
(b) Tournament Expenses – ₹14,000
Question 9
How are the following items shown in the final accounts of a Not-for-Profit Organisation?
₹ Tournament Fund 50,000 Tournament Expenses 15,000 Receipts from sale of Tournament Tickets 20,000
Question 10
How are the following dealt with in the final accounts of a Not-for-Profit Organisation?
Question 11
How the following items for the year ended 31st March ,2019 will be presented in the financial statements of Aisko Club?
Additional Information:
Interest Accrued on Tournament Fund Investments ₹6,000.
Question 12
How will the following items be presented in the ‘Income and Expenditure Account’ of a club for the year ending 31st March ,2019 and the balance sheet as on that date?
Question 13
How are the following dealt with while preparing the final accounts of a club?
Question 14
From the following information of a club, show the amounts of match expenses and match fund in the appropriate Financial Statements of the Club for the year ended on 31st March, 2021:
Question 15
Show how are the following items dealt with while preparing the final accounts for the year ended 31st March, 2021 of a Not-for-Profit Organisation:
Case I
Expenditure on construction of Pavilion is ₹6,00,000. The construction work is in progress and has not yet completed. Capital Fund as at 31st March, 2020 is ₹20,00,000.
Case II
Expenditure on construction of Pavilion is ₹6,00,000.The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2020 is ₹10,00,000 and Capital Fund as at 31st March, 2020 is ₹20,00,000.
Case III
Expenditure on construction of Pavilion is ₹6,00,000.The construction work is in progress and has not yet completed. Pavilion Fund as at 31st March, 2020 is ₹10,00,000, and Capital Fund as at 31st March, 2020 is ₹20,00,000. Donation Received for Pavilion on 1st January, 2021 is ₹5,00,000.
Question 16
During the year ended 31st March, 2021 Subscriptions received by the Jaipur Literary Society were ₹4,20,000. These subscription include ₹14,000 received for the year ended 31st March, 2020. On 31st March, 2020 subscription due but not received were ₹10,000. What amount should be credited to income and expenditure Account for the year ended 31st March, 2021 as subscription?
Question 17
From the given extracts obtained from the Receipts and Payments Account of Cheema Club for the year ended 31st March, 2019 and additional information, calculate the amount of subscription in arrears as on 31st March, 2019:
Additional Information: The Club had 130 members paying an annual subscription of ₹1,000 each.
Subscription in arrears at the beginning of the year were ₹16,000. 10 members paid subscription for 2018-2019 in 2017-18.
Question 18
There are 450 members, each paying an annual subscription of ₹200; ₹1,800 were in arrears for the year ended 31st March, 2020.
Calculate amount of subscription to be credited to Income and Expenditure Account for the year ended 31st March, 2021.
Question 19
During the year ended 31st March, 2021, Subscriptions received by Kings Club, Delhi were ₹4,09,000 including ₹5,000 for the year ended 31st March, 2020 and ₹10,000 for the year ended 31st March, 2022. At the end of the year ended 31st March, 2021, Subscription outstanding for the year ended 31st March, 2021 were ₹15,000. The subscription due but not received at the end of the previous year, i.e. 31st March, 2020 were ₹8,000, while subscriptions received in advance on the same date were ₹18,000.
Calculate amount of subscriptions to be credited to Income and Expenditure account for the year ended 31st March, 2021.
Question 20
From the following information, calculate amount of subscription to be credited to the Income and Expenditure Account for the year ended 31st March, 2021:
Subscriptions received during the year ended 31st March, 2021 – ₹3,00,000.
Subscription still arrears for the year 2019-20 – ₹10,000.
Question 21
From the following particulars, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2021:
Question 22
How are the following items of subscriptions shown in the income and expenditure account for the year ended 31st March, 2021 and Balance Sheets as at 31st March, 2020 and 2021?
Question 23
From the following information, prepare Subscription Account for the year ending 31st March, 2021:
In the year ending 31st March, 2021, subscriptions received were ₹2,10,000 (including ₹6,000 of arrears from previous year) and subscription arrears of previous year were written off ₹4,000
Question 24
Calculate amount of Subscriptions which will be treated as Income for the year ended 31st March, 2021 for each of the following cases:
Question 25
Calculate the income from subscription for the year 2020-21 to be credited to Income and Expenditure Account from the following information relating to a club:
Out of subscription outstanding as on 1st April, 2020 ₹37,500 are no longer receivable.
Question 26
On the basis of information given below, calculate the amount of medicines to be debited to the Income and Expenditure account of Good Health Hospital for the year ended 31st March, 2021
Medicines purchased during the year ended 31st March, 2021 were ₹60,80,700.
Question 27
Calculate amount to be posted to the Income and Expenditure Account for the year ended 31st March, 2021:
(i) Amount paid for stationery during the year ended 31st March, 2021 – ₹5,400; Stock of Stationery in Hand on 31st March, 2021 – ₹250.
(ii) Stock of Stationery in Hand on 1st April, 2020 – ₹1,500; Payment made for Stationery during the year ended 31st March, 2021 – ₹5,400; Stock of Stationery in hand on 31st March, 2021 – ₹250.
(iii) Stock of Stationery on 1st April, 2020 – ₹1,500
Creditors for Stationery on 1st April, 2020 – ₹1,000
Amount paid for Stationery during the year – ₹5,400
Stock of Stationery on 31st March, 2021 – ₹250
Question 28
From the following information, calculate the amount of sports material to be debited to “Income and Expenditure Account” of a sports club for the year ending 31st March, 2019:
Question 29
Calculate the amount of sports material to be transferred to Income and Expenditure Account of Raman Bhalla Sports Club, Ludhiana, for the year ended 31st March, 2019:
Question 30
From the following information of a charitable dispensary, calculate the amount of medicines consumed during the year that would appear in the Income and Expenditure Account for the year ending 31st March, 2019:
Question 31
Calculate the amount that will be posted to the income and expenditure Account for the year ended 31st March, 2021:
Question 32
From the following information of a Saguna Sports Club, show the ‘Sports Materials’ item in the Income and Expenditure Account for the year ended 31st March, 2021 and Balance sheet as at 31st March, 2020 and 31st March, 2021:
Payment to suppliers for Sports Materials during the year was ₹1,02,000. There were no cash purchases made.
Question 33
How are the following dealt with while preparing the final accounts for the year ended 31st March, 2021?
Question 34
How are the following dealt with while preparing the final accounts of North Sports Club for the year ended 31st March, 2021?
Question 35
How are the following items dealt while preparing the Balance Sheet for the year ending 31st March, 2021 of Confident Club?
Question 36
Book Value of Furniture on 1st April 2020 is ₹60,000. Half of this furniture is sold for ₹20,000 on 30th September, 2020. Depreciation is to be charged on furniture @10% p.a.
Calculate loss on sale of furniture. Show how the loss on sale and depreciation on furniture will be shown in the Income and Expenditure Account for the year ended 31st March, 2021.
Question 37
Delhi Youth Club has furniture at a value of ₹2,20,000 in its book on 31st March, 2020. It sold old furniture, having book value of ₹20,000 as at 1st April, 2020 at a loss of 20% on 31st December, 2020. Furniture is to be depreciated @10% p.a. Furniture costing ₹1,50,000 was also purchased on 1st October, 2020.
Prepare Furniture Account for the year ended 31st March, 2021.
Question 38
In the year ended 31st March, 2021, salaries paid amounted to ₹2,04,000. Ascertain the amount chargeable to the Income and Expenditure Account for the year ended 31st March, 2021 from the following additional information:
Question 39
How are the following items dealt with while preparing Income and Expenditure Account of a Club for the year ended 31st March, 2021?
Question 40
Prepare Income and Expenditure Account for the year ended 31st March, 2021 from the following:
Question 41
From the given Receipts and Payments Account and additional information of Friends Club for the year ended 31st March, 2019, prepare Income and Expenditure Account for the year ending 31st March, 2019:
Additional Information:
(i) On 1st April, 2018, the club had the following balances of assets and liabilities:
Furniture ₹1,00,000; Subscription in arrears ₹2,000 and Outstanding Salary ₹6,000.
(ii) The club had 75 members each paying an annual subscription of ₹1,000.
(iii) Charge depreciation on furniture @10% p.a.
Question 42
Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2021:
Additional Information:
(i) Outstanding Subscription for the year ended 31st March, 2021 – ₹55,000.
(ii) Outstanding Salaries and Wages – ₹40,000.
(iii) Depreciate Sports Equipment’s by 25%.
Question 43
Following is the information given in respect of certain items of a Sports Club. Show these items in the Income and Expenditure Account and the Balance Sheet of the Club as at 31st March, 2021:
Question 44
From the following Receipts and Payments Account of Jaipur Sports Club, prepare Income and Expenditure Account for the year ended 31st March, 2021:
Question 45
Prepare Income and Expenditure Account from the following particulars of Youth Club for the year ended on 31st March, 2018:
Additional Information:
(i) Subscription outstanding as at 31st March, 2018 ₹16,200.
(ii) ₹1,200 is still arrears for the year 2016-17 for subscription.
(iii) Depreciation to be provided @10% p.a. on furniture.
Question 46
From the following Receipts and Payments Account of Premier Club and the information supplied, prepare Income and Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as at that date:
(a) The club has 50 members each paying an annual subscription of ₹500.
(b) Subscription Outstanding on 31st March, 2020 were ₹6,000.
(c) On 31st March, 2021, Salaries Outstanding amounted to ₹2,000. Salaries paid in the year ended 31st March, 2021 included ₹6,000 for the year ended 31st March, 2020.
(d) On 1st April 2020, the Club owned Building valued at ₹2,00,000; Furniture ₹20,000 and books ₹20,000.
(e) Provide depreciation on Furniture at 10%.
Question 47
Following is the summary of cash transactions of the Royal Club for the year ended 31st March, 2021:
In the beginning of the year, the Club possessed Books of ₹2,00,000 and Furniture of ₹85,000. Subscriptions in arrears in the beginning of the year amounted to ₹3,500 and at the end of the year ₹4,500 and six months Rent @₹1,400 p.m. was due both in the beginning of the year and at the end of the year.
Prepare Income and Expenditure Account of the Club for the year ended 31st March, 2021 and its Balance Sheet as at that date after writing off ₹5,000 and ₹11,300 on Furniture and Books respectively.
Question 48
From the following Receipts and Payments Account and additional information given below, prepare Income and Expenditure Account and Balance Sheet of Rural Literacy Society as on 31st March, 2021:
Additional Information:
(i) Subscription outstanding as on 31st March, 2020 ₹20,000 and on 31st March, 2021 ₹15,000.
(ii) On 31st March, 2021, salary outstanding ₹6,000 and one month rent paid in advance.
(iii) On 1st April, 2020, society owned furniture ₹1,20,000 and books ₹50,000.
Question 49
Confident Club’s Balance Sheet as at 1st April, 2020 was as under:
Receipts and Payments Account for the year ended 31st March, 2021 was:
Subscription still to be received are ₹5,500 but subscription already received include ₹4,000 for next year.
Salaries still unpaid are ₹6,000, Sports Equipments are now value at ₹45,000.
Prepare Income and Expenditure Account and the balance Sheet, after charging 10% depreciation on Billiards Tables.
Question 50
From the following Receipts and Payments Account of Old Man Sports Club and from the given additional information, prepare Income and Expenditure Account for the year ending 31st March, 2021 and the Balance Sheet as at that date:
Additional Information:
(i) The club had received ₹20,000 for subscription in 2019 – 20 for 2020 – 21.
(ii) Salaries had been paid only for 11 months.
(iii) Stock of Sports materials on 31st March, 2020 was ₹3,00,000 and on 31st March, 2021 ₹6,50,000.
Question 51
Following is the Receipts and Payments Account of Bharti Club for the year ended 31st March, 2019:
Additional Information:
Prepare Income and Expenditure Account of the Club for the year ended 31st March, 2019 and its Balance Sheet as at 31st March, 2019.
Question 52
From the following Receipts and Payments Account of Mumbai Theatre Club, prepare Income and Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as at that date:
Additional Information:
(i) Subscription in arrears for the year ended 31st March, 2021 ₹9,000 and subscription in advance for the year ending 31st March, 2022 ₹3,500.
(ii) Insurance Premium Outstanding ₹400.
(iii) Miscellaneous Expenses prepaid ₹900.
(iv) 8% Interest has accrued on investments for five months.
(v) Billiard Table costing ₹3,00,000 was purchased during last year and ₹2,20,000 were paid for it.
Question 53
Following Receipts and Payments Account was prepared from the Cash Book of Delhi Charitable Trust for the year ending 31st March, 2020:
Prepare Income and Expenditure Account for the year ended 31st March, 2020 and Balance Sheet as on that date after the following adjustments:
(i) Insurance premium was paid for insurance taken w.e.f. 1st July, 2019.
(ii) Interest on Investment ₹11,000 accrued was not received.
(iii) Rent ₹6,000; Salary ₹9,000 and advertisement expenses ₹10,000 were outstanding as on 31st March, 2020.
(iv) Legacy Donation is towards construction of Library Block.
Question 54
Given below the Receipts and Payments Account of Mayur Club for the year ended 31st March, 2021:
Prepare club’s Income and Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as at that date after taking the following information into Account:
(i) There are 500 members, each paying an annual subscription of ₹500, ₹5,000 are still in arrears for the year ended 31st March, 2020.
(ii) Municipal Taxes amounted to ₹4,000 per year is paid up to 30th June (Prepaid Municipal Taxes in the beginning of the year were ₹1,000) and ₹5,000 are outstanding of salaries.
(iii) Building stands in the books at ₹5,00,000.
(iv) 6% interest has accrued on investments for five months.
Question 55
From the following information and the Receipts and Payments Account of Delhi Medical Society, prepare Income and Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as at that date:
Other Information:
On 31st March, 2020, the Club possessed books of ₹2,00,000 and Furniture of ₹85,000. Provide depreciation on theses assets @10% including the purchases during the year.
Subscription in arrears in the beginning of the year amounted to ₹3,500 and at the end of the year ₹5,500 were outstanding.
The Club paid three months’ rent in advance both in the beginning and at the end of the year.
Question 56
Receipts and Payments Account of Shankar Sports Club is given below for the year ended 31st March, 2021:
Prepare Income and Expenditure Account and Balance Sheet with the help of following information:
(i) Subscription outstanding on 31st March, 2020 is ₹1,200 and ₹2,300 on 31st March, 2021;
(ii) Opening Stock of postage stamps is ₹300 and closing stock is ₹200;
(iii) Rent ₹1,500 related to the year ended 31st March, 2020 and ₹1,500 is still unpaid;
(iv) On 1st April, 2020, the club owned furniture ₹15,000, Furniture valued at ₹22,500 on 31st March, 2021.
The Club has a loan of ₹20,000 (@ 10% p.a.) which was taken, in the year ended 31st March, 2020.
Question 57
From the following particulars relating to the Megha Charitable Hospital, prepare Income and Expenditure Account for the year ended 31st March, 2021 and the Balance Sheet as at that date:
Additional Information:
