Question 33 Chapter 1 – Class 12 Part 1 Unimax

Question 33 Chapter 1 – Class 12 Part 1 Unimax

33. The following is a summary of the cash transactions of a debating society for the year ended 31st March, 2021 :

At the beginning of the year the society owned Rs. 4,000 government securities which had cost Rs. 3,251 and furniture then valued at Rs. 870. There were living at that date thirty-two life members, each of whom had paid a subscription of Rs. 50, but of these two died during the year. Ordinary subscription in Arrear at the beginning of the year amounted to Rs. 35 and at the end of the year to Rs. 45 and six months rent (Rs. 60) was due both at the beginning and end of the year. Prepare the society’s Income and Expenditure Account for the year ended 31st March, 2021 and Balance Sheet as on that date. Rs. 75 is to be written off by way of furniture depreciation. Life membership subscriptions of living life members are held in a Life Membership Fund, But the Life membership subscription of a life member who dies is treated as the income of the year.

The solution of Question 33 Chapter 1 – Class 12 Part 1 Unimax: 

Working Notes :

(1) Calculation of capital fund as on 1-4-2012.

Balance Sheet of M/s Debating Society
As on 31Mar., 2012.

Income and Expenditure account of M/s Debating Society
For the year ended on 31-3-2013.

Balance Sheet of M/s Literary Society
As on 31st Dec., 2012

End of Solution

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1. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 1 Class 12 by Unimax

UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy Part 1 in Class 12. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 12 examinations.

• Chapter No. 1 – Accounts of Non-Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Basic Concepts)
• Chapter No. 3 – Partnership Accounts – II (Goodwill)
• Chapter No. 4 – Partnership Accounts – III (Change in Profit Sharing Ratio among Existing Partners)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

2. Comprehensive Solutions for All Chapters of Advanced Accountancy Part 2 Class 12 by Unimax

UnimaxSolutions.in presents an exceptional resource for students studying Advanced Accountancy Part 2 in Class 12. With their comprehensive study material, students can conveniently access extensive solutions to all the questions featured within each chapter. By simply selecting the desired chapter from the study material, students can effortlessly navigate through the topics and gain access to detailed explanations and step-by-step solutions to every problem presented in that particular section. Whether it involves understanding intricate accounting principles, honing calculation techniques, or analyzing complex financial statements, Unimax provides a valuable tool to support students in their learning journey. Equipped with these comprehensive solutions, students can enhance their comprehension, resolve any uncertainties, and strengthen their problem-solving abilities in Advanced Accountancy, empowering them to excel in their Class 12 examinations with confidence.

• Chapter No. 1 – Company Accounts (Share Capital)
• Chapter No. 2 – Issue of Debentures
• Chapter No. 3 – Redemption of Debentures
• Chapter No. 4 – Financial Statements of a Company (Balance Sheet Only)
• Chapter No. 5 -Financial Statement Analysis
• Chapter No. 6 – Tools/Methods of Financial Analysis
• Chapter No. 7 – Ratio Analysis
• Chapter No. 8 – Cash Flow Statement

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