Practical Problem 05
SOLUTION:
In the books of Bhartiya Kala Kendra, Solapur
Income and Expenditure Account for the year ended 31st March | |||||
Expenditure | Amt (₹) | Amt (₹) | Income | Amt (₹) | Amt (₹) |
To Stationery | 600 | By Locker rent | 400 | ||
To Expenses of Drama | 3,000 | By Entrance Fees | 2,900 | ||
To Postage | 450 | Less: 50 % Capitalised | 1,450 | 1,450 | |
To Magazine and Newspaper | 600 | By Sale of Old Newspapers | 250 | ||
To Salaries | 4,400 | By receipts from Drama | 9,000 | ||
Add: Outstanding Salaries | 200 | 4,600 | By Interest on Govt. Securities | 400 | |
To Surplus (Excess of income over expenditure) | 2,650 | By Miscellaneous receipts | 400 | ||
11900 | 11900 | ||||