Accountancy Part AAccounts for Non Profit Organsiation

From the following particulars, prepare the Receipt and Payment accou…

From the following particulars, prepare the Receipt and Payment account for the year ending 31st March 2023 and choose the correct answer for the balancing figure for bank balance?

Particulars	Amount(₹)	Particulars	Amount(₹)
Opening cash balance	500	Sale of old sports materials	600
Opening bank balance	3,600	Donation received	2,300
Subscriptions collected for		Rent paid	1,500
2016-17 ₹ 250		Sports materials purchased	2,400
2017-18 ₹ 3,800		Purchase of refreshments	300
2018-19 ₹ 450	4,500	Expenses for maintenance	1,000
Sale of refreshments	500	Salary paid	1,250
Entrance fees	500	Tournament expenses	1,200
		Furniture purchased	750
		Office expenses	600
		Closing cash in hand	200

Answer & explanation

Correct answer: option 2

The correct answer is option 2- ₹3,300.

Dr. For the year ended 31st March 2023 Cr.

Receipts	Amount	Payments	Amount

To Balance b/d (Cash)	500	Sports material purchased	2,400
To Balance b/d (Bank)	3,600	Maintenance expenses	1,000
Subscriptions		Salary	1,250
2016-17 250		Tournament expenses	1,200
2017-18 3,800		Furniture purchased	750
2018-19 450	4,500	Office expenses	600
Sale of refreshments	500	Purchase of refreshment	300
Entrance fees	500	Balance c/d (Cash)	200
Donation received	2,300	Rent	1,500
Sale of old sports materials	600	Bank (bal. figure)	3,300
Total	12,500		12,500

From the following particulars, prepare the Receipt and Payment account for the year ending 31st March 2023 and choose the correct answer for the balancing figure for bank balance?

Particulars	Amount(₹)	Particulars	Amount(₹)
Opening cash balance	500	Sale of old sports materials	600
Opening bank balance	3,600	Donation received	2,300
Subscriptions collected for		Rent paid	1,500
2016-17 ₹ 250		Sports materials purchased	2,400
2017-18 ₹ 3,800		Purchase of refreshments	300
2018-19 ₹ 450	4,500	Expenses for maintenance	1,000
Sale of refreshments	500	Salary paid	1,250
Entrance fees	500	Tournament expenses	1,200
		Furniture purchased	750
		Office expenses	600
		Closing cash in hand	200

Answer & explanation

Correct answer: option 2

The correct answer is option 2- ₹3,300.

Dr. For the year ended 31st March 2023 Cr.

Receipts	Amount	Payments	Amount

To Balance b/d (Cash)	500	Sports material purchased	2,400
To Balance b/d (Bank)	3,600	Maintenance expenses	1,000
Subscriptions		Salary	1,250
2016-17 250		Tournament expenses	1,200
2017-18 3,800		Furniture purchased	750
2018-19 450	4,500	Office expenses	600
Sale of refreshments	500	Purchase of refreshment	300
Entrance fees	500	Balance c/d (Cash)	200
Donation received	2,300	Rent	1,500
Sale of old sports materials	600	Bank (bal. figure)	3,300
Total	12,500		12,500