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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 2 · Set 2 · Q4
From the following information of Kapoor Sports Club , calculate the amount of 'sports material' to be kited to 'Income and Expenditure Account' for the year ended 31st March, $\displaystyle 2021$ : Amount Details < Stock of sports material as on 1st April, $\displaystyle 2020$ $\displaystyle 40,000$ Creditors for sports material as on 1st April, $\displaystyle 2020$ $\displaystyle 8,000$ Stock of sports material as on 31st March, $\displaystyle 2021$ $\displaystyle 20,000$ Amount paid for sports material during the year $\displaystyle 2020$ $\displaystyle 21$ $\displaystyle 90,000$ Creditors for sports material as on 31st March, $\displaystyle 2021$ $\displaystyle 10,000$ORShow the following information in the Balance Sheet of Royal Sports Club for the year ended 31st March, $\displaystyle 2021$ : Amount Details < Match expenses $\displaystyle 10,000$ Match fund $\displaystyle 70,000$ Donation for Match fund $\displaystyle 20,000$ Sale of match tickets $\displaystyle 10,000$
OR
Show the following information in the Balance Sheet of Royal Sports Club for the year ended 31st March, $\displaystyle 2021$ : Amount Details < Match expenses $\displaystyle 10,000$ Match fund $\displaystyle 70,000$ Donation for Match fund $\displaystyle 20,000$ Sale of match tickets $\displaystyle 10,000$Marking-scheme solution
Calculation of amount of sports material to be debited to income and expenditure
A/c :
(₹)
Amount paid for sports material $\displaystyle 90,000$
Less creditors for sports material as on $\displaystyle 1.4.20$ $\displaystyle (8,000)$
Add creditors for sports material as on $\displaystyle 31.3.21$ $\displaystyle 10,000$
Add stock of sports material as on $\displaystyle 1.4.20$ $\displaystyle 40,000$
Less stock of sports material on $\displaystyle 31.3.21$ $\displaystyle (20,000)$
Amount to be debited to Income & Expenditure A/c / $\displaystyle 1,12,000$
Sports Material consumed
Alternatively :
Dr Stock of Sports Material Account Cr
Particulars Amount Particulars Amount
(₹) (₹)
To Balance b/d $\displaystyle 40,000$ By Income and Expenditure A/c $\displaystyle 1,12,000$
(Sports Material consumed
To Creditors A/c $\displaystyle 92,000$
during the year- Balancing
-Credit
figure)
Purchases
By Balance c/d
$\displaystyle 20,000$
$\displaystyle 1,32,000$
$\displaystyle 1,32,000$
Dr Creditors for Sports Material Account Cr
Particulars Amount Particulars Amount
(₹) (₹)
To Bank A/c $\displaystyle 90,000$ By Balance b/d $\displaystyle 8,000$
By Stock of Sports Material
To Balance c/d $\displaystyle 10,000$
$\displaystyle 92,000$
A/c (Credit purchase of Sports
Material)
$\displaystyle 1,00,000$ $\displaystyle 1,00,000$
Show the following information in the Balance Sheet of ‘Royal Sports
Club’……
Ans.
Balance Sheet of Royal Sports Club as at 31st March, $\displaystyle 2021$
Amount Assets Amount
Liabilities
(₹) (₹)
Match fund $\displaystyle 70,000$
Add: $\displaystyle 20,000$
Donation for match fund
Add : Sale of match tickets $\displaystyle 10,000$
Less Match expenses $\displaystyle (10,000)$ $\displaystyle 90,000$
Practice Accounting for Not-for-Profit Organisation →All Accounting for Not-for-Profit Organisation questions
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CBSE Class 12 Accountancy past-paper question from the 2022board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.