Inc and exp a/c
Dear Student
Please note that :
1.Total Subscriptions = Subscriptions received + Subscriptions due but not received = 25,000 + 12,000 = 37,000/-
2.Donations for building are considered for specific purpose hence they are not considered in Income and Expenditure A/c but they wold be shown in balance sheet directly.
3. Government grant is considered as revenue grant and hence credited in Income and expenditure A/c.
Regards
| Income and Expenditure A/c for the year ended 31.12.13 | |||||||
| Cr. | |||||||
| Date | Particulars | Amount | Date | Particulars | Amount | ||
| (Rs) | (Rs) | ||||||
| Salaries | 15,000 | Subscriptions | 37,000 | ||||
| Rent A/c | 8,000 | Rent of Hall | 39,000 | ||||
| Stationery A/c | 18,000 | Sale of Old newspapers | 1,000 | ||||
| Charity A/c | 5,000 | Government Grant | 2,000 | ||||
| Newspaper and Journal A/c | 2,000 | ||||||
| Depreciation on Bicycle | 1,000 | ||||||
| Surplus | 30,000 | ||||||
| 79,000 | 79,000 | ||||||
Please note that :
1.Total Subscriptions = Subscriptions received + Subscriptions due but not received = 25,000 + 12,000 = 37,000/-
2.Donations for building are considered for specific purpose hence they are not considered in Income and Expenditure A/c but they wold be shown in balance sheet directly.
3. Government grant is considered as revenue grant and hence credited in Income and expenditure A/c.
Regards