From the following Balance Sheet and Receipts and Payments A/c of Vidya mandir High School,

Alibag. Prepare Income and Expenditure Account for the year ended 31st March, 2008 and
Balance Sheet as on that date.
Balance Sheet as on 1st April, 2007

Liabilities Amount Assets Amount

Entrance 6000 Furniture 16800

Fees

Capital Fund 103800 Laboratory 20000

Library 25000

Investment 40000

Cash in hand 1000

Cash at bank 3000

Outstanding Tuition Fees 4000

109800 109800

Receipts and Payments Account for the year ended 31st March, 2008

Receipts Amount Payments Amount

To Balance b/d By Furniture Purchased 5400

Cash in hand 1000 By Salaries 60000

Cash at bank 3000 By Rent 28000

To Tuition Fees 80000 By Sundry Expenses 15200

To Term Fees 26200 By Annual gathering expenses 11300

To Government grant 16000 By Insurance 4000

To Donation of library 30000 By closing Balance

To Interest on 2000 Cash at bank 34300

Investment

158200 158200

Adjustments:
1. Tuition fees still receivable are Rs. 10,000.
2. Salaries still payable are Rs. 30,000
3. Insurance premium is paid for one year ending 30.9.2008.
4. Rent paid in advance Rs. 4000.
5. Depreciate furniture and library at 10%.
Depreciation to be charged on the closing balances of the assets.

From the following Receipts and payments account of Omtex Sports Club, Dadar for the year
ended 31st March, 2007 and other information, prepare Income and Expenditure account for the
year ended on and a Balance Sheet as at that date.

Receipts Amount Payments Amount

To Balance B/f 1040 By Salaries 2100

To Subscriptions for : By Entertainment 45

Expenses

2006 85 By Electric Charges 234

2007 3000 By General Expenses 350

2008 103 By Rates & Taxes 120

To Donations 2200 By Investments 900

To Entertainment Receipts 76 By Stationery & Printing 241

To Interest 981 By Expenses of 2006 600

To Entrance Fees 900 By Fixed Deposit 2900

By Balance C/f 895

8385 8385

The Gymkhana has 450 members paying an annual subscription of Rs. 15/- each.
Rs. 20/- is still in arrears towards subscription for the year 2006.
Carry forward Rs. 50/- or rates paid in advance.
Provide Rs. 2000/- for salaries outstanding.
The Gymkhana owns Land and Building standing in the books of Rs. 15,000/- and Furniture standing at
Rs. 1,150, on which depreciation at 5% and 20% respectively is to be written off.
The Capital Fund as on 1st April, 2006 was Rs. 16,695/-
50% of the Entrance Fees is to be capitalised. Donations are capitalised.

Dr. Narendra commenced practice in the month of April 2007. He prepared the following Receipts
& Payments Account for the year ended 31st March, 2008.
Receipts and Payments A/c For the year ended 31st March, 2008

Receipts Amount Payments Amounts

s

To Cash 10000 By Furniture 1500

To Visits 7000 By Equipment 2500

To Sundry Receipts 400 By Drugs 2000

By Salaries 1000

By Rent 500

By Conveyance 700

By Stationery 100

By Lighting 125

By Periodicals 100

By Drawings 4375

By Balance c/d 4500

17400 17400

1. Rs 200 were to be received on account of visits.

2. Unpaid Salaries Rs. 200
3. 60% of conveyance is for private purposes.
4. Value of drugs on hand was estimated at Rs. 1,000.
5. Depreciate furniture and equipment by 10%
6. Prepare Income and Expenditure account and balance sheet.
The Balance Sheet as at 1st April, 2006 and the Receipts and Payments account for the year ended
31st March, 2007 of the Young Sports Club, Dadar are as under.

Young Sports Club – Balance Sheet as on 1st April, 2006

Liabilities Rs. Rs. Assets Rs. Rs.

Capital Fund 30000 Building 9500

Outstanding Expenses Furniture 5000

Salaries 40 Entrance Fee Receivable 200

0

Printing 30 700 Subscriptions Fee receivable 800

0

Income and Expenditure A/c 23300 Sports Material & 28000

Equipments

Cash in Hand 4200

Cash at Bank 6300

54000 54000

Young Sports Club, Dadar, Receipts and Payments A/c for the year ending 31st March, 2007

Receipts Rs. Payments Rs.

To Opening Balance By Cricket Tournament Expenditure 16460

Cash in Hand 4200 By Printing & Stationery 860

Cash in Hand 6300 10500 By Salaries and Honorarium 1600

To Subscriptions 18000 By Repairs to Building 500

To Receipts from Cricket 14520 By Newspapers and Periodicals 470

Tournament

To Entrance Fees 4000 By Advertising Expenses 300

To Interest on Bank A/c 300 By Insurance 400

By Investments 15000

By Closing Balance
 Cash in Hand 5280

Cash at Bank 6450 11730

47320 47320

You are also given the following additional information.

1. Subscriptions of the amount of Rs. 800 were receivable as on 31st March, 2007
2. Subscriptions Rs. 200 and Entrance Fees Rs. 300 were received in advance.
3. Outstanding Expenses were: Salaries and Honorarium Rs. 100; Insurance Rs. 50; Cricket
Tournament Expenses Rs. 250.
You are required to prepare Income & Expenditure account for the year ending 31 st March, 2007 and a
Balance Sheet as on that date.

Dr. Subhash Raje started practice as a medical practitioner on 1st April, 2007. He gives you the
Receipts & Payments Accounts for the year 2007 – 08 and the adjustments to be made. Prepare his
Income and Expenditure Account and Balance sheet for 2007 -08.
Receipts and payments account for the year ended 31st March, 2008.

Receipts Amount Payments Amount

To Cash Introduced 107500 By Furniture 50000

To Visits 84000 By Equipment 40000

To Receipts From Dispensary 64000 By Drugs 35000

To Sundry Receipts 12000 By Salary 24000

By Rent 6000

By Conveyance 18000

By Stationery 5600

By Lighting 10000

By Journals 1200

By Drawings 37700

By Balance C/f 40000

267500 267500
Adjustments:
1. Receipts in arrears are: Visits Rs. 11,500 and Dispensary Rs. 9,000.
2. The outstanding salaries are Rs. 1,800 and the outstanding expenses on drugs are also Rs. 3,000.
3. 40% of the amount spent on conveyance was for domestic use.
4. Stock of drugs in hand at the close of the year was worth Rs. 4,200.
5. Depreciate furniture at 5% p.a. and equipment at 10% p.a. Furniture and equipment purchased on
1st April 2007.

Dr. Subhash Raje started practice as a medical practitioner on 1st April, 2007. He gives you the
Receipts & Payments Accounts for the year 2007 – 08 and the adjustments to be made. Prepare his
Income and Expenditure Account and Balance sheet for 2007 -08.
Receipts and payments account for the year ended 31st March, 2008.

Receipts Amount Payments Amount

To Cash Introduced 107500 By Furniture 50000

To Visits 84000 By Equipment 40000

To Receipts From Dispensary 64000 By Drugs 35000

To Sundry Receipts 12000 By Salary 24000

By Rent 6000

By Conveyance 18000

By Stationery 5600

By Lighting 10000

By Journals 1200

By Drawings 37700

By Balance C/f 40000

267500 267500
Adjustments:
1. Receipts in arrears are: Visits Rs. 11,500 and Dispensary Rs. 9,000.
2. The outstanding salaries are Rs. 1,800 and the outstanding expenses on drugs are also Rs. 3,000.
3. 40% of the amount spent on conveyance was for domestic use.
4. Stock of drugs in hand at the close of the year was worth Rs. 4,200.
5. Depreciate furniture at 5% p.a. and equipment at 10% p.a. Furniture and equipment purchased on
1st April 2007.

Dr. Vinod commenced Medical practice on 1.4.2006. He has prepared the following Receipts and
payments account for the years 31.3.2007. [ Modified, September, 2009]

Receipts and payments account for the year 31st March 2007

Receipts Amount Payments Amount

To Cash Introduced (Capital 35000 By Furniture 30000

Fund)

To Income from Visits 35000 By Honorarium to Doctor 20000

To Receipts from Dispensary 75000 By Equipments 40000

To Miscellaneous receipts 6000 By Purchase of Drugs 20000

To Interest on Investments 1500 By Compounders Salary 22000

To Receipts from Operation Fees 9000 By Rent of Dispensary 6000

By Conveyance Charges 2000

By Stationery 600

By Operation Expenses 8000

By Lighting 400

By Journals and Newspapers 800

By Telephone Expenses 500

By Investments 7200

By Balance C/d 4000

161500 161500
Adjustments.
i. Rs. 50000 were still to be received on account of the visits.
ii. Compounder salary of Rs. 300 and Bill of stationary Rs. 10000 and Rent of dispensary Rs.
10000 are outstanding.
iii. 50% amount of conveyance charges were for private use.
iv. Stock of Drugs on hand was estimated at Rs. 4000.
v. Furniture and Equipments are to be depreciated at 10%.
Prepare Income and expenditure account for the year ended 31st March 2007 and Balance sheet as on that
date from the above information.

Dr. Manohar commenced practice in the month of April 2007. He prepared the following Receipts
& Payments Account for the year ended 31st March, 2008.

Receipts and Payments A/c For the year ended 31st March, 2008

Receipts Amount Payments Amounts

s

To Cash 5000 By Furniture 2500

To Visits 10000 By Equipment 1500

To Sundry Receipts 2400 By Drugs 1000

By Salaries 2000

By Rent 300

By Conveyance 900

By Stationery 100

By Lighting 125

By Periodicals 1000

By Drawings 3975

By Balance c/d 4000

17400 17400

Rs 500 were to be received on account of visits.

Unpaid Salaries Rs. 300
50% of conveyance is for private purposes.
Value of drugs on hand was estimated at Rs. 100.
Depreciate furniture and equipment by 10%
Prepare Income and Expenditure account and balance sheet.

From the following Receipt and Payment account of Patan Sports Association, Patan and the
adjustments. You are required to prepare Income and Expenditure Account for the year ended 31st
March, 2004 and a Balance sheet as on that date. (12)

Receipts and Payments Account for the year ended 31st March 2004.

Receipts Amount Payments Amount

(Rs.) (Rs.)

To Balance b/d 4160 By Salaries 5500

To Subscription: By Entertainment Expenses. 2580

2003 – 04 16000 By Lighting 1000

2004 – 05 412 By General Expenses 1536

To Donation 2000 By Taxes 500

To Receipts from 3644 By Investments 12000

Entertainment

To Interest on Investment 324 By Printing and Stationery 944

To Entrance Fees 4500 By Expenses of 2002 – 03 2400

To Prize Fund 3000 By Fixed Deposit 4000

By Bank Balance 3000

By Balance C/d 580

34040 34040

Adjustments:
(1) There are 450 members paying an annual subscription of Rs. 40 each.
(2) Salary outstanding on 31st March, 2004 was Rs. 1,000.
(3) Building stood in books Rs. 60,000 and furniture at Rs. 4,600 on 1st April, 2003. Write off
depreciation on these assets @ 2% and 10% respectively.
(4) Interest on investment @ 5% has accrued for 3 months.
(5) The capital fund was Rs. 66,360 on 1st April, 2003.
(6) 60% of the entrance fee is to be capitalised.

Dr. Arjun Patil commenced Medical practice on 1.4.2006. He has prepared the following Receipts
and payments account for the years 31.3.2007. [September, 2009]

Receipts and payments account for the year 31st March 2007

Receipts Amount Payments Amount

To Cash Introduced (Capital 30000 By Furniture 40000

Fund)

To Income from Visits 40000 By Honorarium to Doctor 10000

To Receipts from Dispensary 80000 By Equipments 50000

To Miscellaneous receipts 1000 By Purchase of Drugs 10000

To Interest on Investments 500 By Compounders Salary 12000

To Receipts from Operation Fees 10000 By Rent of Dispensary 6000

By Conveyance Charges 2000

By Stationery 600

By Operation Expenses 8000

By Lighting 400

By Journals and Newspapers 800

By Telephone Expenses 500

By Investments 7200

By Balance C/d 14000

161500 161500

Adjustments.
i. Rs. 5000 were still to be received on account of the visits.
ii. Compounder salary of Rs. 3000 and Bill of stationary Rs. 1000 and Rent of dispensary Rs. 1000
are outstanding.
iii. 25% amount of conveyance charges were for private use.
iv. Stock of Drugs on hand was estimated at Rs. 2000.
v. Furniture and Equipments are to be depreciated at 10%.
Prepare Income and expenditure account for the year ended 31st March 2007 and Balance sheet as on that
date from the above information.

From the following balance Sheet and Receipts and Payments account of Nanavati Hospital,
Bombay, prepare Income and Expenditure account for the year ending on 31st March, 2007 and
the Balance sheet as on that date.

Balance Sheet as on 1st April, 2006

Liabilities Rs. Assets Rs.

Salaries Unpaid 2000 Cash 11000

Medicines Bill Unpaid 1500 Securities 150000

Capital Fund 383000 Furniture 4000

Land and Buildings 200000

Equipments 15000

Subscriptions Due 5000

Interest Accrued 1500

386500 386500

Receipts and Payment Account for the year ended 31st March, 2007

Receipts Amount Payments Amount

To Cash balance b/f 11000 By Furniture (Purchased on 1 – 4 – 2006) 1900

To Subscription 30000 By Salaries (including Rs. 2000 of last 23000

year)

To Interest (Rs. 1500/- for last 5000 By Equipment (Purchased on 1 – 4 – 06) 7500
year)

To Donations (Revenue) 4300 By Dispensary expenses 4700

To Life Membership fees 10000 By Medicines 5500

By Taxes 500

By Cash balance c/f 17200

60300 60300

Adjustments.

1. Capitalise the amount of life membership fees.

2. Interest earned but not received Rs. 1,000/-
3. Subscription include Rs.1000/- for 2008 and outstanding subscription for 31st march, 2007 is 4,200
4. Unpaid salary for the year 2007 is Rs. 2500/-
5. Provide for depreciation on furniture 10%, Land and Building 5%, Equipments 20%.
6. Prepaid taxes Rs. 100/-

Following is the Balance sheet and receipts and payments account of the Memorial Hospital,
Sawantwadi. Prepare Income and expenditure account for the year ended on 31.3.2010 and the
balance sheet as on that date. (March 2011)

Balance sheet as on 1.4.2009

Liabilities Rs. Assets Rs.

Capital fund 1004000 Cash in hand 6000

Outstanding Cash at bank 34000

Salaries 22000 Land and Building 800000

Medicine Bill 6000 Furniture 70000

unpaid

Equipments 120000

Outstanding Subscriptions 2000

 1032000 1032000

Receipt and payments account For the year ending 31.3.2010

Receipts Amount Payments Amount

(Rs.) (Rs.)

To Balance b/d By Salaries (including of the 110000

previous year)

Cash in hand 6000 By Medicines 52000

Cash at bank 34000 By Equipments purchases 20000

To subscription (includes Rs. 2000 received 130000 By Taxes 3000

for previous year)

to Sale of Furniture (Book Value Rs. 30000) 20000 By General Expenses 8600

To Donations (Revenue) 44000 By Balance C/d

To Life membership Fees 25000 Cash in Hand 15400

Cash at bank 50000

259000 259000

Consider the following adjustments.

1. Outstanding subscription Rs. 12000.
2. Capitalize the amount of membership fees.
3. Prepaid taxes Rs. 500.
4. Outstanding Salary Rs. 12000.
5. Write off depreciation Rs. 20000 from Land and Building and Rs. 30000 from Equipments.
6. Outstanding Medicine bill as on 1.4.09 is still due.

From the following Balance sheet and Receipts and Payments Account of Padmavati High School,
Thane, prepare Income and Expenditure account for the year ended 31-03-2007 and balance sheet
as on that date. (September 2008)

Balance sheet as on 31st March, 2006

 Liabilities Amount Assets Amount
(Rs.) (Rs.)

Entrance 30000 Furniture 84000

fees
519000 Computer laboratory 100000
Capital fund
Library 125000
Investment 200000
Cash in hand 5000
Cash at bank 15000
Outstanding Tuition 20000
Fees
549000 549000

Receipts and Payment Account for the year ended 31st March, 2007

Receipts Amount Payments Amount

(Rs.) (Rs.)

To balance b/d By Furniture purchased 52000

Cash in hand 5000 By Salaries 300000
Cash at bank 15000 By rent 140000
To Tuition Fees 400000 By Sundry expenses 27000
To Term Fees 120000 By Stationery 49000
To Government Grant (salary) 104500 By Annual gathering expenses 24000
To Sundry receipts 11000 By repairs of buildings 32500
To sale of old newspapers 500 By Insurance 20000
To interest on investments 10000 By Balance c/d
To Donation of library 150000 Cash in Hand 44500
Cash at Bank 127000

816000 816000

Adjustments:
1. Tuition fees receivable Rs. 150000
2. Salary still payable Rs. 150000
3. Rent paid in advance Rs. 20000
 4. Insurance premium is paid for one year ending 30-9-07
5. Depreciate furniture and library at 10% and computer laboratory at 20%. Depreciation is to be
charged on the closing balance of assets.

The following is the Receipts and payments Account of Modern Sports Club, Satara, for the year
ended on 31st March, 2007. (March 2009)

Receipts and Payments Account for the year ended on 31st March, 2007.

Receipts Amount Payments Amount

To Balance b/d 1490 By Upkeep of Garden 9500

To Subscription 13600 By Wages 2360

To Entrance Fees 520 By Salary 7000

To Interest on Investments 840 By Ground Rent 210

To Proceeds from Matches 5180 By Printing 930

To Life Member Fees 5000 By Postage 190

By Bank Balance 5000

By Balance C/d 1440

26630 26630

Adjustments:
1. Ledger balances of the club as on 31.3.2006 were
Capital fund Rs. 66,430, Club house and ground Rs. 40,000, Investments Rs. 18,640, furniture Rs. 6,400,
and outstanding subscription Rs. 600.
2. Printing includes Rs. 200, Upkeep of garden includes Rs. 500 and Subscription includes Rs. 400 for
the previous year.
3. Entrance fees are to be capitalized.
4. The Rotary club of Satara owed Rs. 210 for the use of club hall.
5. Provide 10% depreciation on furniture.
6. Subscriptions outstanding for the current year were Rs. 1,000.
Prepare _
Income and Expenditure account for the year ended 31st March, 2007 and Balance Sheet as on that date.

Following is the summary of Receipts and Payments of Jay Bajrangbali Vyayam Shala, Ajara for
the year ending 31.03.2007. (March 2010)

Receipts and payments Account for the year ended on 31st March 2007.

Receipts Amoun Payments Amount

t

To Balance b/d 41600 By Salary 55000

To Subscription By Lighting 10000

2005 – 06 4120 By General Expenses 15360

2006 – 07 160000 By Entertainment Expenses 25800

To Donation for Building 50000 By Taxes Paid 5000

To Receipts from Entertainments 36440 By Printing and Stationery 9440

To Interest 3240 By Expenses of 2005 – 2006 24000

To Entrance Fees 45000 By Investment 120000

By Fixed Deposit with Ajara Urban Bank 40000

By Balance C/d 35800

340400 340400

Adjustments:
i. Jay Bajrangbali Vyayam Shala has 4500 members paying annual subscription of Rs. 40 each.
ii. Provide for outstanding salary Rs. 5000.
iii. On 1.4.2006 the assets stood as under:
a. Land and building Rs. 60,000.
b. Furniture Rs. 46000
Depreciate the above assets at 10% p.a.
iv. Interest on Investment Rs. 2000 is not received.
v. Capital Fund was Rs. 1,27,720 on 1-4-2006..
vi. 50% of the entrance fees is to be capitalised.
Prepare: Income and Expenditure account for the year ended 31st march 2007 and balance sheet as on that
date.

From the following Receipts and Payments Accounts of Sangameshwar Sports Club for the year
ending 31st March, 2007 and Balance Sheet as on that date. (September 2010)

Receipts and Payments Account For the year ended on 31st March, 2007.

Receipts Amount Payments Amount

To Balance (1-4-06) By Salaries 40000

Cash in Hand 15000 By Wages 40000

Cash at Bank 215000 By Postage and Telegram 15000

To Subscriptions 125000 By Printing & Stationery 25000

To Donations 225000 By Hire of Ground 15000

To Entrance Fees 125000 By Sports Material 200000

[Purchased on 1-1-07]

To Interest 15000 By Insurance 50000

To Miscellaneous 15000 BY Balance (31.03.07)

Receipts

Cash in Hand 10000

Cash at Bank 340000

735000 735000

Adjustment
i. Subscriptions include Rs. 2000 received for the year 2005 – 2006 and subscription of Rs. 5000
is due to for current year but not received yet.
ii. Assets as on 1st April, 2006 were as follows.
a. Building Rs. 300000
b. Sports Material Rs. 250000
c. Investments Rs. 150000
d. Furniture Rs. 150000.
iii. Provide depreciation on Building, Sports Material and Furniture at 5% p.a.
iv. Capitalise 50 % of Donations and Entrance Fees.
v. Insurance of Rs. 5000 is paid in advance.
vi. Salaries are outstanding at Rs. 5000 and Interest Rs. 5000 is due but not received.
vii. Capital fund was Rs. 10,82,000 as on 1-4-2006.

Following is the Receipts and Payments Account and additional information of Kalpana Hospital,
Sakri. (March 2012)

Receipts and Payments account for the year ended 31st March, 2010

Receipts Amount Payments Amount

To Balance b/d 6000 By Medicines 10000

To Subscriptions By Honorarium to Doctors 75000

2008 – 2009 7500 By Ambulance Maintenance 44000

2009 – 2010 95000 By Hospital Equipments 33000

Purchased

2010 – 2011 15000 By Furniture Purchased 25000

To Donations 55000 By Fixed Deposits 100000

To Life Membership 150000 By Balance C/d 69500

Fees

353500 353500

Additional Information:
i. Outstanding subscription for 200 9 – 2010 is amounted to Rs. 5000.
ii. Hospital Equipments and Furniture were purchased on 1.10.2009 and both were to be
depreciated at 20% p.a.
iii. Life membership fees are to be capitalized.
iv. Donations represent donations for Building fund.
v. Staff salary for the current year is outstanding Rs. 7500.
vi. On 1.4.2009, the hospital had the following assets and liabilities: Land and Building Rs. 250000,
Investments Rs. 50000, Ambulance Rs. 1,02,500, Bank Loan Rs. 2,00,000.
vii. Capital fund as on 1.4.2009 was amounted to Rs. 2,16,000.
Prepare: Income and Expenditure Account for the year ending 31st March, 2010 and the Balance Sheet as
on that date.

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
on and a Balance Sheet as at that date. (March 2008, modified)

Receipts Amount Payments Amount

To Balance B/f 1040 By Salaries 1300

To Subscriptions for : By Entertainment Expenses 645

2006 85 By Electric Charges 234

2007 4000 By General Expenses 350

2008 103 By Rates & Taxes 120

To Donations 1200 By Investments 3000

To Entertainment Receipts 876 By Stationery & Printing 241

To Interest 81 By Expenses of 2006 600

To Entrance Fees 1000 By Fixed Deposit 1000

By Balance C/f 895

8385 8385

i. The Gymkhana has 450 members paying an annual subscription of Rs. 10/- each.
ii. Rs. 20/- is still in arrears towards subscription for the year 2006.
iii. Carry forward Rs. 20/- for rates paid in advance.
iv. Provide Rs. 200/- for salaries outstanding.
v. The Gymkhana owns Land and Building standing in the books of Rs. 15,000/- and Furniture
standing at Rs. 1,150, on which depreciation at 5% and 20% respectively is to be written off.
vi. The Capital Fund as on 1st April, 2006 was Rs. 16,695/-
vii. 50% of the Entrance Fees is to be capitalised. Donations are capitalised.