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Question 34 Chapter 1 – Class 12 Part 1 Unimax

Question 34 Chapter 1 - Class 12 Part 1 Unimax

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Question 34 Chapter 1 – Class 12 Part 1 Unimax

34. The following is the Receipts and Payments Account of a Club for the year ended 31.12.2021

ReceiptsAmountPaymentsAmount
To Cash in hand1000By Bank overdraft5,000
To Subscription40500By Medicines23000
To Donation7000By Diet expenses2000
To Grant from local Authority3,000By Doctor’s honorarium6000
To Proceeds of charity show8,000By Electricity & power2,500
To Interest on investment @ 10% for full year4,000By Insurance9200
To Sundries400By petty expenses300
  By Equipment200
  By Stationery9000
  By Expenses on charity show500
  By Balance c/d : Cash800
  Bank4700
 63,900 63,900

Additional Information :

Particulars1.1.2131.12.21
Outstanding salaries500900
Insurance prepaid9030
Subscription due300400
Subscription received in advance100700
Stock of medicines50004000
Equipments1500022000
Building (less depreciation)5000045000

Prepare Income and Expenditure Account and a Balance Sheet as on 31.12.21.

The solution of Question 34 Chapter 1 – Class 12 Part 1 Unimax: 

Working Notes :

Balance Sheet of Club As on 1-1-12.

Income and Expenditure account of Club
For the year ended on 31st Dec, 2012

Balance Sheet of Club  As on 31st Dec, 2012

End of Solution


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Punjab School Education Board (PSEB) Solutions of Usha Publication.

If you’re a student enrolled in the Punjab School Education Board Class 12, it’s essential to explore a wide range of books to cover the syllabus thoroughly. While the prescribed textbooks are undoubtedly valuable, supplementing your studies with additional resources can enhance your understanding and knowledge. Consider checking out other books that align with the curriculum, offering different perspectives and insights on the subjects you’re studying. These supplementary materials can provide you with alternative explanations, practice questions, and examples that may aid in clarifying complex concepts. Moreover, exploring diverse sources can expose you to a variety of writing styles and viewpoints, fostering a broader understanding of the subjects. So, seize the opportunity to expand your learning by delving into other books that can complement your studies and contribute to your academic growth.

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