AccountancyNEB 2074 (old course)
एउटा क्लबको निम्न जानकारी दिएको छ: A club has given the following information: वासलात (Balance Sheet) ३१ चैत्र २०७१ (As on 31^st Chaitra 2071) दायित्व (Liabilities) Rs. सम्पत्ति (Assets) Rs. : : : :…
10एउटा क्लबको निम्न जानकारी दिएको छ: A club has given the following information:
वासलात (Balance Sheet) ३१ चैत्र २०७१ (As on Chaitra 2071)
| दायित्व (Liabilities) | Rs. | सम्पत्ति (Assets) | Rs. |
|---|---|---|---|
| पुँजी कोष (Capital fund) | 1,00,000 | मेसिनरी (Machinery) | 90,000 |
| तिर्नुपर्ने तलब (Salary due) | 5,000 | अग्रिम बीमा भुक्तानी <br> (Pre-paid insurance) | 1,000 |
| अग्रिम सदस्यता शुल्क <br> (Advance subscription) | 10,000 | बाँकी सदस्यता शुल्क <br> (Subscription due) | 5,000 |
| नगद मौज्दात (Cash balance) | 19,000 | ||
| 1,15,000 | 1,15,000 |
३१ चैत्र २०७२ को प्राप्ति तथा भुक्तानी खाता Receipts and Payments Account of chaitra , 2072
| प्राप्ति (Receipts) | Rs. | भुक्तानी (Payments) | Rs. |
|---|---|---|---|
| सुरु मौज्दात (To balance b/d) | 19,000 | तलब (By salaries) | 20,000 |
| सदस्यता शुल्क (To subscriptions) | 50,000 | बीमा (By insurance) | 10,000 |
| प्रवेश शुल्क <br> (To entrance fees) | 20,000 | मर्मत (By repairs) | 15,000 |
| विविध प्राप्ती (To sundry receipts) | 10,000 | मेसिनरी (By machinery) | 50,000 |
| अन्तिम मौज्दात <br> (By balance c/d) | 4,000 | ||
| 99,000 | 99,000 |
थप जानकारी (Additional information): i) अग्रिम बीमा भुक्तानी (Pre-paid insurance) Rs. 2,000. ii) मेसिनरीमा १०% ले ह्रास कटटी (Depreciate Machinery at 10%). iii) तिर्नुपर्ने तलब (Outstanding salaries) Rs. 5,000. iv) प्राप्त हुन बाँकी सदस्यता शुल्क (Subscription due) Rs. 10,000.
तयार गर्नुहोस् (Required): [5+5=10] i) आय-व्यय खाता (Income and Expenditure Account). ii) वासलात (Balance Sheet).
Answer
Solution
Step 1: Calculate Adjusted Figures
Before preparing the accounts, we must adjust the Receipts and Payments Account figures to arrive at the correct Income and Expenditure figures.
Subscriptions (Income):
- Cash received: Rs. 50,000
- Add: Subscription due (Outstanding) at end: Rs. 10,000
- Less: Advance subscription received (Liability at start): Rs. 10,000
- Total Subscription Income =
Salaries (Expenditure):
- Cash paid: Rs. 20,000
- Add: Salary due (Outstanding) at end: Rs. 5,000
- Less: Salary due (Outstanding) at start: Rs. 5,000
- Total Salary Expenditure =
Insurance (Expenditure):
- Cash paid: Rs. 10,000
- Add: Pre-paid insurance at start (Asset): Rs. 1,000
- Less: Pre-paid insurance at end (Asset): Rs. 2,000
- Total Insurance Expenditure =
Depreciation on Machinery:
- Opening Machinery: Rs. 90,000
- Add: Purchase of Machinery: Rs. 50,000
- Total Machinery: Rs. 140,000
- Depreciation @ 10%:
Closing Cash Balance:
- From Receipts and Payments Account: Rs. 4,000
i) Income and Expenditure Account for the year ended 31st Chaitra 2072
| Particulars | Amount (Rs.) | Particulars | Amount (Rs.) |
|---|---|---|---|
| To Expenditure | By Income | ||
| Salaries | 20,000 | Subscriptions | 50,000 |
| Insurance | 9,000 | Entrance Fees | 20,000 |
| Repairs | 15,000 | Sundry Receipts | 10,000 |
| Depreciation on Machinery | 14,000 | ||
| To Surplus (Transferred to Capital Fund) | 12,000 | ||
| 96,000 | 96,000 |
Note: Surplus is calculated as Total Income (80,000) - Total Expenditure (68,000) = 12,000.
ii) Balance Sheet as on 31st Chaitra 2072
| Liabilities | Amount (Rs.) | Assets | Amount (Rs.) |
|---|---|---|---|
| Capital Fund | Fixed Assets | ||
| Opening Balance | 1,00,000 | Machinery | 1,40,000 |
| Add: Surplus | 12,000 | Less: Depreciation | (14,000) |
| 1,12,000 | Net Machinery | 1,26,000 | |
| Current Liabilities | Current Assets | ||
| Salary Due | 5,000 | Cash in Hand | 4,000 |
| Advance Subscription | 10,000 | Pre-paid Insurance | 2,000 |
| Subscription Due (Receivable) | 10,000 | ||
| 16,000 | |||
| 1,27,000 | 1,27,000 |
Final Results
1. Surplus for the year: Rs. 12,000 2. Closing Capital Fund: Rs. 1,12,000 3. Net Machinery Value: Rs. 1,26,000
Discussion
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