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Financial Statements of Not For Profit Accountancy Worksheet for Class 11
Class 11 Accountancy students should refer to the following printable worksheet in Pdf in Class 11. This test paper with questions and solutions for Class 11 Accountancy will be very useful for tests and exams and help you to score better marks
Class 11 Accountancy Financial Statements of Not For Profit Worksheet Pdf
Topic: Financial Statements of Not-for-Profit Organizations
1. How would you treat the following in books of a non trading organization?
(i) Cash received for Governor’s party fund— Rs 40,000, expenses incurred on the Governors party Rs 36,800.
(ii) Expenses incurred on a friendly cricket match—Rs 15,000
(iii) Prizes fund(1-1-14) Rs 25,000
(iv) Contributions received during the year 2014 –Rs 45,000
(v) Prizes given during the year 2014 Rs 62,000
2. Find out the amount of income from subscription to the taken to income and expenditure account for the year 31 Dec, 2014
Rs
(i) Subscription received 25,000
(ii) Subscription due for 2014 1,600
(iii) Subscription due for 2013 1,800
(iv) Subscription received in advance in 2013- for 2014 2,100
(v) Subscription received in advance in2014 for next year 2015 200
(a) Calculate the subscription in statement form
(b) Prepare subscription Account
(c) Also show the Balance Sheet Position on December 31, 2014.
3. From the following information find out the amount to be taken to income and expenditure accounts for the year ended Dec 31. 2014.
(i) Salaries paid during 2014 30,000
(ii) Salaries outstanding on Dec 31, 2013 1,200
(iii) Salaries prepaid in 2013 for 2014 800
(iv) Salaries prepaid in 2014 for 2015 1,600
(v) Salaries outstanding on Dec 31, 2014 2,400
4. A club has a canteen for its members. From the following information show how the canteen trading account will be prepared for the year ending Dec 31-2014.
i. Stock of provisions 1-1-14 8,000
ii. Stock of provision 31-12-14 2,000
iii. Sales during the year 2014 30,000
iv. Purchases of provision during 2014 12,000
v. Salaries and wages of the workers 2,500
vi. Electricity expenses 1,500
vii. Furniture and equipment is worth as on Jan 1,2014 25,000
viii . Charge depreciation at 10% p.a
5. From the following extract of Receipt and Payment Account and the additional information given below, compute the amount of income from subscriptions for the year ending March 31, 2015 and the Balance Sheet on that date:
Receipts Amount Payments Amount
(Rs)
Subscriptions:
2013-14 7,000
2014-15 30,000
2015-16 5,000
__________
42,000
Additional Information: `
1. Subscriptions outstanding March 31, 2014 8,500
2. Total Subscriptions outstanding March 31, 2015 18,500
3. Subscriptions received in advance as on March 31, 2014 4,000
6. From the following information calculate the amount of stationery to be debited to Income and Expenditure Account for the year ending 31st March, 2015.
7. From the following Receipts and payments A/c show Subscription to be shown in Income and Expenditure A/c for the year ending 31st March 2014 and relevant items in the Balance sheet.
Receipts and Payments a/c
The Charitable trust has 1,400 members each paying Rs 400 as annual subscription. Outstanding Subscription as on 31-3-2013 was
Rs 75,000. 25 members paid their annual Subscription of 2013-2014 during 2012-2013.
8. Show the following in the Balance sheet of a not for profit organization:-
Additional Information: Interest Accrued on Tournament Fund Investment Rs 6,000.
9. On the basis of following information, calculate the Salaries for the year ending 31st December 2014 and show the relevant items in the Income and Expenditure account and the Balance sheet as on 31st Dec. 2014.
Receipts and Payments Account for the year ending 31st Dec. 2014.
(a) Salaries Outstanding on 31-12-2013 Rs 25,000
(b) Salaries Outstanding on 31-12-2014 Rs 45,000
(c) Salaries paid in advance on 31-12-2013 Rs 10,000
10.Prepare an Income and Expenditure Account from the following Receipts and Payments Account for the year ended December 31st 2014.
The following additional information is provided:
a) Subscriptions include Rs 12,000 for 2013 and Rs 18,000 for 2014.
b) Stock of stationery on 31st Dec 2013 and 2014 was respectively Rs 7,200 and Rs 5,400.
c) Stock of Sports Material at the beginning and end of the year was Rs 12,000 and Rs 21,000 respectively.
d) Rent includes Rs 4,000 paid for March, 2013. Rent for March, 2014 is outstanding.
e) Telephone expenses include Rs 3,000 as quarterly rent up to 28th Feb. 2015.
f) The value of Building as on 31st Dec 2013, was Rs 8,00,000 and you are required to write off depreciation at 10%.
g) The value of investments on 31st Dec, 2013 was Rs 10,00,000
11. From the following particulars relating to Delhi Public Hospital,prepare Income and Expenditure account for the year ended 31st December 2012 and a Balance sheet as on that date.
Receipt and payment account for the year ended 31-12-2002
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CBSE Class 11 Accountancy Financial Statements of Not For Profit Worksheet
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Worksheet for Accountancy CBSE Class 11 Financial Statements of Not For Profit
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Financial Statements of Not For Profit worksheet Accountancy CBSE Class 11
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Financial Statements of Not For Profit CBSE Class 11 Accountancy Worksheet
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Worksheet for CBSE Accountancy Class 11 Financial Statements of Not For Profit
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