NPO Home work Questions

1. As per Receipt and Payment Account for the year ended on March 31, 2014, the subscriptions received
were Rs. 2,50,000. Additional Information given is as follows:

1. Subscriptions Outstanding on 1.4.2013 Rs. 50,000

2. Subscriptions Outstanding on 31.3.2014 Rs.35,000
3. Subs. Received in Advance as on 1.4.2013 Rs.25,000
4. Subs. Received in Advance as on 31.3.2014 Rs.30,000
Ascertain the amount of income from subscriptions for the year 2013–14 and show how relevant
items of subscriptions appear in opening and closing balance sheets. (Ans:
Rs. 2,30,000)

Q.2 Extracts of Receipt and Payment Account for the year ended March 31, 2014 are given below:

Receipt Subscriptions (Rs.)

2012-13 2,500
2013-14 26,750
2014-15 1,000
Total 30,250
Additional Information:
Total number of members: 230. Annual membership fee: Rs. 125.
Subscriptions outstanding on April 1, 2013: Rs. 2,750.
Prepare a statement showing all relevant items of subs. viz., income, advance, outstandings, etc.
(Ans: Rs. 28750)

Q.3 From the following extract of Receipt and Payment Account and the additional information given
below, compute the amount of income from subscriptions and show as how they would appear in
the Income and Expenditure Account for the year ending March 31, 2015 and the Balance Sheet
on that date:

Subscriptions:
2013-14 7,000
2014-15 30,000
2015-16 5,000
Total 42,000
Additional Information: Rs.
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 (Ans: Rs.
51,000)
Q.4 Calculate the amount of subscriptions to be shown in Income & Expenditure Account for the year
ending 31.03.2013, from the following particulars of a Baba Charitable Trust.

31.3.2012 31.03.2013
Outstanding subscription 36,000 45,000
Subscription received in advance 2,700 5,200
Total subscription received during the year ending 31.03.2013 Rs. 2,70,000.
Also show the relevant items in the balance sheet as at 31.03.2008 and 31.03.2009. (Ans: Rs.
2,76,500)
Q.5 From the following Receipts & Payments Account show subscription to be shown in Income and
Expenditure Account for the year ending 31.03.2013 and 31.03.2014.

Receipt and Payment Account (an extract)

Particulars Amount Particulars Amount
To Subscription:
For 2013-14 18,000
For 2014-15 1,80,000
For 2015-16 9,000 2,07,000
The charitable trust has 1,000 member each paying 200 as annual subscription. Outstanding
subscription as on 31.03.2015 was Rs. 27,000. (Ans: Outstanding subscription for
2014-15 is Rs. 20,000)

Q.6 Ramkrishna Club received Rs. 8,000 as subscriptions during the year 2013-14. This amount
included Rs. 400 which were outstanding as at 31 st March 2013 and Rs. 400 received for the year
2014-15. The subscription due but not received on 31 st March, 2014 were Rs. 500. Calculate the
amount of subscriptions to be credited to Income and Expenditure Account for the year ended
31st March, 2014. (Ans: Rs. 7,700)

FUND BASED ACCOUNTING

Q.1 Show how you would deal with the following items in the final account of a Club:

Details Debit Amount(Rs.) Credit Amount (Rs.)

Prize Fund 80,000
Prize Fund Investments 80,000
Income from Prize Fund Investments 8,000
Prizes awarded 6,000

Q.2 (a) Show the following information in financial statements of a ‘ Not-for-Profit’ Organization:

Details Amount (Rs.)

Match Expenses 16,000
Match Fund 8,000
Donation for Match Fund 5,000
Sale of Match tickets 7,000
(b) What will be the effect, if match expenses go up by Rs. 6,000 other things remaining the
same?

Q.3 (a) Show the following information in financial statements of a ‘ Not-for-Profit’ Organization:

Details Amount (Rs.)

Tournament Fund Expenses 18,000
Tournament Fund 8,000
Donation for Tournament Fund 2,500
Sale of Tournament tickets 4,000
 (b) What will be the effect, if tournament expenses go up by Rs. 20,000 other things remaining
the same?

Q.4 Show the treatment of following transactions while preparing final Account of a Non-Profit
Organization for the year ended 31st March 2015:

Tournament fund = Rs. 50,000

Interest accrued on Tournament fund Investment = Rs. 3,000
Tournament Expenses 20,000
Tournament fund investment = Rs. 30,000
Tournament fund receipts = Rs. 7,500 (Ans: Tournament Fund = Rs. 40,500)

Q.5 Show the treatment of following transactions while preparing final Account of a Non-Profit
Organization for the year ended 31st March 2015:

Tournament fund as on 1 April 2014 was Rs. 50,000. Tournament expensed incurred Rs. 20,000.
Donations received for tournament fund during the year was Rs. 7,500. 9% Tournament Fund
Investment as at 31st March 2014 was RS. 37,500. Interest received on tournament fund
investment was Rs. 2,500. (Ans: Tournament Fund. = 40,875)

Q.6 In the following alternative cases, how will you deal with them while preparing final Accounts of
a Non-Profit Organization for the year ended 31st March, 2015?

(i)Tournament expenses = Rs. 30,000

(ii) Tournament fund = Rs. 50,000. Tournament Expenses = Rs. 30,000
(iii) Tournament Fund = Rs. 50,000. Tournament Expenses = Rs. 30,000. Receipt from tournament
= Rs. 20,000.
(iv) Tournament Fund = Rs. 50,000. Match Expenses = Rs. 30,000

Calculation of Material consumed

Q.1 From the following information compute the amount charged through Income and Expenditure
Account for the year ended 31st March 2015:

(a) Amount paid for medicines during the year Rs. 8,000
Stock of medicine in hand on 31st March, 2015 Rs. 2,000 (Ans: Rs. 6,000)

(b) Amount paid for medicines Rs. 8,000

Stock of medicine on 1st April, 2014 Rs. 1,000
Stock of medicine on 31st March, 2015 Rs. 2,000 (Ans:s. 7,000)

(c) Stock of medicine on 1st April, 2014 Rs. 6,000

Creditors for medicines on 1st April, 2014 Rs. 2,500
Advances for medicines on 1st April, 2014 Rs. 500
Amount paid during the year Rs. 8,000
Stock of medicine on 31st March, 2015 Rs. 1,000 (Ans:Rs.6,000)

(d) Stock of medicine on 1st April, 2014 Rs. 6,000

 Creditors for medicines on 1st April, 2014 Rs. 2,500
Advances for medicines on carried forward from 2014-15 Rs. 500
Amount paid during the year Rs. 8,000
Stock of medicine on 31st March, 2015 Rs. 800
st
Creditors for medicines on 31 March 2015 Rs. 1,500
Advance for medicines paid during 2014-15 Rs. 1,200 (Ans: Rs. 6,500)

Q.2 From the following information compute the amount charged through Income and Expenditure
Account for the year ended 31st March 2015:

(a) Amount paid for stationery during the year Rs. 24,000
Stock of stationery in hand on 31st March, 2015 Rs. 6,000 (Ans: Rs. 18,000)

(b) Amount paid for stationery Rs. 24,000

Stock of stationery on 1st April, 2014 Rs. 3,000
Stock of stationery on 31st March, 2015 Rs. 6,000 (Ans: Rs. 21,000)

(c) Stock of stationery on 1st April, 2014 Rs. 3,000

Creditors for stationery on 1st April, 2014 Rs. 7,500
Advances for stationery on 1st April, 2014 Rs. 1,500
Amount paid during the year Rs.24,000
Stock of stationery on 31st March, 2015 Rs. 3,000 (Ans: Rs. 18,000)

(d) Stock of stationery on 1st April, 2014 Rs. 3,000

Creditors for stationery on 1st April, 2014 Rs. 7,500
Advances for stationery on carried forward from 2014-15 Rs. 1,500
Amount paid during the year Rs. 24,000
Stock of stationery on 31st March, 2015 Rs. 2,400
st
Creditors for stationery on 31 March 2015 Rs. 4,500
Advance for stationery paid during 2014-15 Rs. 3,600 (Ans:Rs 19,500)
Q.3 Extract of a Receipt and Payment Account for the year ended on March 31, 2014:

Payments:
Stationery Rs. 23,000
Additional Information:
Details April 1, 2005 March 31, 2014
Stock of stationery 4,000 3,000
Creditors for stationery 9,000 2,500 (Ans: Rs. 17,500)
Q.4 Find out the cost of medicines consumed during 2014-15 from the following information:

Details Amount (Rs.)

Payment for purchase of medicines 3,70,000
Additional Information
Detail 01.04.2014 31.03.2015
Creditors for medicines purchased: 25,000 17,000
Stock of Medicines: 62,000 54,000
Advance to suppliers of medicines: 11,500 18,200 (Ans: Rs. 3,63,300)

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