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Accountancy · 2022 · 5 marks
CBSE 2022 · Region 4 · Set 3 · Q7
Following is the 'Receipts and Payments Account' of Manoranjan Club for the year ended 31st March, 2022: Receipts and Payments Account of Manoranjan…
Following is the 'Receipts and Payments Account' of Manoranjan Club for the year ended 31st March, $\displaystyle 2022$ : Receipts and Payments Account of Manoranjan Club
for the year ended 31st March, $\displaystyle 2022$
Additional Information : (i) The Club has $\displaystyle 1500$ members each paying an annual subscription of ₹ 200. (ii) Prepare Income and Expenditure Account of Manoranjan Club for the year ended 31st March, 2022.
| Receipts | Amount (₹) | Payments | Amount (₹) |
| Balance b/d Cash $\displaystyle 10,000$ | Staff Salaries | $\displaystyle 1,71,000$ | |
| Bank $\displaystyle 15,700$ | $\displaystyle 25,700$ | Musical Instruments Purchased | $\displaystyle 80,000$ |
| Subscriptions : | Repair of Musical Instruments | $\displaystyle 4,000$ | |
| $\displaystyle 2020$ – $\displaystyle 21$ $\displaystyle 7,000$ | Honorarium to trainers | $\displaystyle 2,48,000$ | |
| $\displaystyle 2021$ – $\displaystyle 22$ $\displaystyle 3,00,000$ | $\displaystyle 12$% Fixed Deposit (On $\displaystyle 1.1.2022$) | $\displaystyle 1,00,000$ | |
| $\displaystyle 2022$ – $\displaystyle 23$ $\displaystyle 4,000$ | $\displaystyle 3,11,000$ | Balance c/d Cash $\displaystyle 5,000$ | |
| Sale of old furniture (Book value ₹ $\displaystyle 25,000$) | $\displaystyle 5,000$ | Bank $\displaystyle 61,700$ | $\displaystyle 66,700$ |
| Sale of old magazines | $\displaystyle 3,000$ | ||
| Proceeds from music concerts | $\displaystyle 2,00,000$ | ||
| Fee from learners | $\displaystyle 1,25,000$ | ||
| $\displaystyle 6,69,700$ | $\displaystyle 6,69,700$ |
Marking-scheme solution
Manoranjan Club
Dr. Income and Expenditure Account of for the year ended 31st March, $\displaystyle 2022$ Cr.
Amount Amount
Expenditure Income
(₹) (₹)
Loss on sale of furniture $\displaystyle 20,000$ Subscription ($\displaystyle 1,500$ x $\displaystyle 200$) $\displaystyle 3,00,000$
Staff Salaries $\displaystyle 1,71,000$ Sale of old magazines $\displaystyle 3,000$
Repair of Musical Instruments Proceeds from music concerts
Honorarium to trainers $\displaystyle 4,000$ Fee from trainers $\displaystyle 2,00,000$
Excess of income over $\displaystyle 2,48,000$ Interest on Fixed Deposit
expenditure – Surplus $\displaystyle 1,25,000$
$\displaystyle 1,88,000$ (Accrued)
$\displaystyle 3,000$
$\displaystyle 6,31,000$ $\displaystyle 6,31,000$
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CBSE Class 12 Accountancy past-paper question from the 2022 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.