Non Profit Making Organization

Working Notes:

(w-1) calculation of Accumulated Funds:

A. Funds = Assets - Liabilities
OR
Trial Balance
OR
Statement of Affairs
(w-2) calculation of purchases:
Creditors a/c = Trade Payable a/c = PLC
$ $
Bank(payment to supplier) 7200 Bal b/d (opening) 250
Bal c/d (closing) 400 Purchases(Bal. Fig) 7350
7600 7600
Or
Formula :- Purchases
= Payment to Suppliers + Closing Trade Payables - Opening Trade Payables

(w-3) Calculation of Subscription:

Subscription A/c
$ $
Arrears b/d Advance b/d
I&E(for the year) 2660 Bank (received) 2500
Refund Sub. Written-Off
Advance c/d 120 Arrears c/d 280

2780 2780

3100 4500
Arrears b/d Advance b/d

Bar Trading Account

Details $ $
Sales XXX
Cost Of Goods Sold:
Opening Inventory (Stock) (refreshments) + XXX
Purchases (see W-2) XXX
(XX) (XXX)
- closing Inventory (Stock) (refreshments)
GROSS PROFIT XXX

Less: Bar Expenses

Wages Snack (XXX)
Profit from BAR XXX

Income & Expenditure Account

For the year ended 31 Dec. 2010
Incomes: $ $
Subscription (see W-3) Xxx
Profit from bar Xxx
Profit from quiz (Income – Exp.) Entrance Xxx
fee Xxx XXX
Expenditure:
Xxx
Ground man’s wages
Xxx
Cleaning (xxx)
Xxx
Depreciation of premises
Surplus / deficit xxx

Statement of Financial Position

 As at 31 Dec. 2010
Cost Dep’n NBV
Non-Current (Fixed) Assets: $ $ $
Premises xxx (xxx) xx
Fixtures xxx (xxx) xx

xxx xxx xxx

Current Assets:
Closing Inventory (Stock) xxx
Subscription in Arrears xxx
Prepaid xxx
Cash & Bank xxx Xxx

Current Liabilities:
Creditors Xxx
Subscription in advance Xxx
Owings
Xxx
Xxx (XXX)
*Bank overdraft XXX
WORKING CAPITAL
Long - Term Liabilities:
Special purpose Gift xxx (XXX)
Loan xxx

Total Assets (capital employed) xxxxx

Financed By:
Accumulated Funds (see W -1) + xxx
xxx XXX
Surplus

xxxxx