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Accountancy · 2022 · 3 marks
CBSE 2022 · Region 4 · Set 3 · Q4
Young Cricket Club received ₹ 48,000 as subscriptions during the year ended 31st March, 2022. Out of these subscriptions received, ₹ 8,000 belonged…
Young Cricket Club received ₹ $\displaystyle 48,000$ as subscriptions during the year ended 31st March, 2022. Out of these subscriptions received, ₹ $\displaystyle 8,000$ belonged to the year $\displaystyle 2020$ $\displaystyle 21$ and ₹ $\displaystyle 6,000$ belonged to the year $\displaystyle 2022$ 23. On 31st March, $\displaystyle 2022$ subscriptions of ₹ $\displaystyle 12,000$ were still outstanding. During the previous year subscriptions of ₹ $\displaystyle 16,000$ were received in advance. Prepare Subscriptions Account showing the amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2022.
During the year ended 31st March, $\displaystyle 2022$ Alfa Club paid ₹ $\displaystyle 37,000$ to creditors for purchase of stationery. From the following additional information regarding stationery, calculate the amount of stationery to be debited to the Income and Expenditure Account for the year ended 31st March, 2022.
Additional Information :
| Details | April $\displaystyle 1$, $\displaystyle 2021$ (₹) | March $\displaystyle 31$, $\displaystyle 2022$ (₹) |
| Stock of Stationery | $\displaystyle 7,000$ | $\displaystyle 11,000$ |
| Creditors for Stationery | $\displaystyle 9,000$ | $\displaystyle 6,000$ |
Marking-scheme solution
SUBSCRIPTIONS ACCOUNT
Amount Particulars Amount
Particulars
(₹) (₹)
$\displaystyle 16,000$
Balance b/d /
Balance b/d /Subscriptions $\displaystyle 8,000$
Subscriptions in advance
outstanding at the beg.
at the beginning
Income & Expenditure A/c
$\displaystyle 62,000$ Bank A/c $\displaystyle 48,000$
(Bal. figure)
Balance c/d /Subscriptions $\displaystyle 12,000$
Balance c/d / Subscriptions outstanding at the end
in advance at the end $\displaystyle 6,000$
$\displaystyle 76,000$ $\displaystyle 76,000$
Q. During the year ended……………………………
Ans.
Calculation of amount of stationery to be debited to Income expenditure A/c
for the year ended 31st March, $\displaystyle 2022$
(₹)
Amount paid for stationery during the year $\displaystyle 37,000$
Less: Creditors for stationery as on $\displaystyle 1.4.21$ $\displaystyle (9,000)$
Add: Creditors for stationery as on $\displaystyle 31.3.22$ $\displaystyle 6,000$
Stationery purchased during the year $\displaystyle 34,000$
Add: Stock of stationery as on $\displaystyle 1.4.21$ $\displaystyle 7,000$
Less: Stock of stationery on $\displaystyle 31.3.22$ $\displaystyle (11,000)$
Amount of stationery to be debited to Income & Expenditure A/c $\displaystyle 30,000$
Alternate Solution :
Creditors’ Account
Amount Particulars Amount
Particulars
(₹) (₹)
Cash A/c / Bank A/c $\displaystyle 37,000$ Balance b/d $\displaystyle 9,000$
Payment to creditors Stock of stationery A/c – $\displaystyle 34,000$
credit purchases
Balance c/d $\displaystyle 6,000$
(Balancing figure)
$\displaystyle 43,000$ $\displaystyle 43,000$
STOCK OF STATTIONERY A/c
Amount Particulars Amount
Particulars
(₹) (₹)
Balance b/d Income & Expenditure $\displaystyle 30,000$
$\displaystyle 7,000$
A/c – Stationery
Creditors for stationery
$\displaystyle 34,000$ consumed (Balancing
A/c – credit purchases
figure)
$\displaystyle 11,000$
Balance c/d
$\displaystyle 41,000$ $\displaystyle 41,000$
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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.