The amount paid to a person for providing voluntary services to a non-profit organisation is called

The amount received by non-profit organisations under will from a deceased person is called

Receipt and payment account is ______ in nature.

The donations received by non-profit organisations for a specific purpose are

Which of the following items will not be recorded in 'receipt and payment' account?

Which of the following transactions are recorded in the income and expenditure account?

The subscription income of a club for the year was Rs. 85,000. An amount of Rs. 83,000 was received during the year. Rs. 2800 had been accrued for the subscription during the previous year, out of which Rs. 2000 was received during the current year. There were also advance subscriptions received in the previous year amounting to Rs. 1200. The subscription received in advance during the current year for the coming year was Rs. 300. How much is the total subscription outstanding or due at the end of the year?

Which of the following transactions is ignored in the income and expenditure account?

If the total of debit side of the income and expenditure account is more than the total of credit side, it is called

Which of the following is considered a capital nature transaction for non-profit organisations?

A charitable trust decided to maintain a sports fund to organise matches. The donations received in the fund during the year amounted to Rs. 30,000. An interest of Rs. 2000 was received for placing these funds in a bank account. An amount of Rs. 35,000 was paid for organising various matches. Which of the following statements is correct?

If the income shown in the income and expenditure account for entrance fees is Rs. 24,000 and 60% of the entrance fees received has been capitalised, find out the actual entrance fees received.

If the amount of interest on 12% investment shown as income in income and expenditure account is Rs. 2400, what will be the investment shown in the balance sheet?

The amount of subscription received by Chandigarh Club during 2014-15 was Rs. 84,000. This included Rs. 5000 for 2015-16. A subscription of Rs. 9000 was accrued for 2013-14, of which Rs. 7000 was received during 2014-15 and Rs. 10,000 was due for 2014-15. Calculate the subscription income for 2014-15.

The book value of furniture at the beginning of an year on 1^st April was Rs. 1,50,000. During the year, furniture with original book value of Rs. 30,000 was sold for Rs. 25,000 on 1^st January and furniture worth Rs. 20,000 was purchased. If the rate of depreciation is 10% per annum, what will be the value of furniture on 31^st March?

A club has sports material worth Rs. 10,000 at the beginning of the year. It purchased further sports material for Rs. 25,000. During the year, it sold some of the sports material costing Rs. 2000 for Rs. 1500. At the end of the year, sports material worth Rs. 27,000 was left. What is the amount of sports material consumed during the year?

Stationery purchased during a year amounted to Rs. 12,000. Stationery credits at the beginning and at the end of the year were Rs. 2000 and Rs. 3000, respectively. Calculate the amount to be shown on the expenditure side of the stationery account. Stationery stock at the beginning and end of the year amounted to Rs. 3500 and Rs. 5000, respectively.

Ludhiana Club has a bar inside the club. Purchases on the account of bar during the previous month were Rs. 15,000. Opening stock was Rs. 1000 and closing stock was Rs. 500 more than the opening stock. There was an outstanding credit at the end of the month of Rs. 3500. Total bar takings during the period was Rs. 22,000 cash with Rs. 3000 accrued at the end. Calculate the profit or loss of the bar.

A club made an investment of Rs. 1,10,000 in 8% debentures from an open market of face value Rs. 1,00,000 on 1^st July, 2015. Interest is due on 30^th June and 31^st December. Interest due on 31^st December is duly received on time. Which of the following statements is correct if the accounts are maintained on mercantile basis?

An annual affiliation fee of Rs. 25,000 has been paid by a club for the affiliation it made with an organisation. The fee was paid on 30^th June, 2014. How will it be shown in the accounts of the club in the income statement and balance sheet for the year ending 31^st March, 2015?

An amount of Rs. 35,000 is paid to stationery creditors. Credits at the beginning and end of the year amounted to Rs. 12,000 and Rs. 7000. Stock of stationery at the starting and end of the year was Rs. 2500 and Rs. 4500, respectively. Credit purchase is 75% of total amount of purchase. What will be the amount of stationery shown in income and expenditure account?

Subscription income during an year is Rs. 1,60,000. Subscription accrued at the beginning and at the end is Rs. 20,000 and Rs. 25,000, respectively. Subscription received in advance at the beginning and at the end is Rs. 5,000 and Rs. 7,000, respectively. Find the amount actually received for subscription.

Sports fund on 1.4.2014 was Rs. 15,000 and sports fund investment on 1.4.2014 in 10% deposit was Rs. 15,000 (only Rs. 1000 received during the year). Donations received during the year for sports events were Rs. 3000. Sports prize awarded was Rs. 3800. Expenses on sports events were Rs. 4500. What will be the amount of sports fund to be shown on the liabilities side of the balance sheet at the end of the year?

There are 500 members of a club. Each member is required to pay an annual subscription of Rs. 500. During 2014, subscription of 20 members was due, whereas 50 members paid their subscription of 2015 in advance. During the current year, subscription amount received is Rs. 2,10,000 (of which Rs. 7000 related to the previous year and Rs. 4000 for 2016). Find the amount of subscription due at the end.

A club has the following balances at the beginning of a year:

Subscription outstanding: Rs. 15,000 Subscription in advance: Rs. 4000 Stock of stationery: Rs. 11,000 8% on fixed deposits of Rs. 45,000 (for which interest of 3 months is due) Prepaid water bill: Rs. 2000 Billiards table: Rs. 20,000 (original cost Rs. 25,000)

Calculate the amount of capital fund.