Accounts of Cooperative Societies

Problem 1: Prepare the Cash book of Shri Vitthal Co-operative Society, Narkhed from follo in! transaction: "##1 &an 1 -alance b.d ' /ssued a che0ue No11%% to landlord for house rent on 2aharashtra State Co-operative -ank ( Paid s eeper a!es 1) /ssued a che0ue no11%% to office clerk for his salary34ra n on 2%S% Co-operative -ank5 1* $eceived a che0ue no111 for interest hich as sent to bank for collection 1+ $eceived from Shri Narhari in cash: As membership fees As entrance fees As share capital "" 6oan paid to Shri 4ilip by che0ue no111% ") -ou!ht office stationery 1( 4eposited into bank ,1 $ecorded interest receivable Problem ": Sho the follo of &une "##": "##" &une 1 ' ) ( 1# 1* 1( "# "' $s% 1)### 1"## )## 1(## '### 1## '# 1### (### *## )### (##

in! transactions in the cash books of Na!pur Consumer cooperative society for the month $s% -alance b.d 6oan !iven to Shri Vasant by che0ue /ssued a che0ue no11 to driver for his salary3dra n on Na!pur Na!arik co-operative -ank5 6oan7s /nstallments received by che0ue Purchased furniture and paid by che0ue Cash deposited into N%N% Co-op -ank $eceived a che0ue no11%% for ater char!es $eceived a che0ue no11%% as a refund of loan% 8he che0ue as immediately deposited in the bank $eceived cash from Shri Anant: As membership fees As entrance fees As share capital 2ade provision for doubtful debts 1"### *### +)# 1"## )*## ,### (## 1")# 1"# "# "### )##

,#

Problem ,: 9ollo in! are the transactions of a Public elfare Co-operative Society for the month of &une, "###: "##* $s% &une 1 :penin! Cash -alance "#### , 4onation received in cash for construction of buildin! 1#### ) Paid in cash to orkers as a!es ")## ( 6oan paid to Shri Amit by Che0ue no11% 3dra n on ;andiba! (###

Sahakari -ank 6td%5 1# Credit -alance of $s% '## of interest Account transferred to /nterest Suspense Account 1" /ssued che0ue no11% for electricity bill 1* $eceived a che0ue no111 for dividend from 4istt% Central C-op% -ank and deposited in the bank "# 4epreciation of $s% (## char!ed on dead stock "' $ecord outstandin! salary "( $ecord interest receivable ,# 6oan recovered from Shri% Sumant: Principal ()## /nterest )##

1"## ""## 1### 1'## <###

Problem ': 8he follo in! are the transactions of Para! Service Co-operative Society for the month of &une "##": "##" $s% &une 1 :penin! cash balance ")### Cash purchase of consumer !oods ,)## ) Sale of fertili=ers in cash ))## * 6oan recovered from Shri kale *'## 3principal $s% *### and interest $s% '##5 ( $emitted into -ank 3current A.c5 *'## ( $emitted into -ank Co-op loan A.c 3 principal $s% )### and interest $s% )##5 ))## < Cash remitted into &anata -a=ar on account '### 1# 6oan recovered from Shri ;ore 3principal $s% ()## and interest $s% +##5 <"## 1" Share suspense received ,)# 1, Sale of consumers !oods 1)## 1' /nvested in the shares of State consumers federation (## 1* 4istt% Central Co-op% -ank loan remitted 1,)## 1< Paid rent in advance *## "" Purchased stationery '## ") Paid salary to mana!er ,### "+ $s% ,"## paid to ards 4CC -ank Crop 6oan A.c "( -oard meetin! e>penses ")## "< Purchased furniture 1(## "< 8ransport char!es paid ,)# ,# Sale of empties 1## ,# ?ithdra n from 4CC -ank 1"## Post the above transactions in the cash book for the month of &une "##"

Problem ): 9rom the follo in! trial balance of Vidarbh Co-operative Society 6td%, prepare 8radin! and P@ 6 A.c for the year ended ,1st 2arch "### and -alance Sheet as on that date:particulars 4r% Cr% $s% $s%

Share Capital 3(### shares of $s% 1# each fully paid5 Purchases @ sales interest 4ebtors @ creditors Statutory $eserve 9und deposits loan to members land @ buildin! 9urniture @ fi>tures Salary and P%9% Contribution Cash in hand Cash in bank /nvestments Staff Provident 9und Prepaid insurance 4ividend $eceived Printin! @ Stationery 4epreciation ?ritten off $ent, $ates, 8a>es and /nsurance -ad debts :penin! Stock ?a!es and other 9actory A>penses

(#### ')### 1)### "#### '#### ")### 1)### 1")## )## 1#### "#### ')## 1### )## ")## )## ))## )## *### '### "",### <### 1#### (### 1)### 1)###

"",### AdBustments to be made:1% Closin! Stock $s% ")### "% Provide for dividend C )D ,% 2ake provision foe Statutory $eserve as per 2aharashtra State Co-operative Societies Act '% Provision of $s% 1### is to be made for secretary7s honorarium% Problem *: 8he follo in! 8rial -alance as prepared on ,1st 2arch "##) from the books of 6a>mi Co-operative Society 6td% : Particulars 4r% Cr% $s% $s% Share Capital ,###### Sundry creditors ')#### Sundry debtors (##### -ills payable "##### -ills receivable ,##### Plant "+)#### Stock 3openin!5 +)#### Carria!e in ards 1)### Carria!e out ards 1*)## Salaries 1(#### Purchases +)#### 9urniture @ fi>tures 1+)### Printin! @ stationery 1"### -ad debts "<)## a!es **)##

Sales Purchase returns Cash in bank Cash in hand

,###### 1<)## (##### ")### ***<)## ***<)##

Prepare 9inal Accounts after makin! the follo in! adBustments:1% Stock at the end of the year $s% +(#### "% $eserve for doubtful debts )D on debtors ,% 4epreciate Plant by 1#D and 9urniture by "#D '% Provide for dividend e0uali=ation fund at "D on share capital )% Provision for dividend is to be made C <D on share capital *% Provide for statutory reserve as per 2aharashtra State Co-operative Societies Act% Problem +: 9rom the follo in! information, prepare 8radin! Account, Profit @ 6oss Account of 2ahala>mi Cooperative Soceity 6td%, for the year ended ,1st 2arch, "##+ and -alance Sheet as on that date :8rial -alance As on ,1st 2arch "##+ 4ebit -alances $s% Credit -alances $s% ;oods purchased )'"### $eturns out ards "### 9i>ed assets ()#'# Sales )'(+## 9urniture ""### Secured loan )"### $eturn in ards (### Commission ,*+## 9i>tures @ fittin!s ,)### -ills payable +*'"# Carria!e in ards 1### Statutory $eserve '#'## :ctroi 1*'# Share capital '(### Salaries ,*+'# 4epreciation fund )+(# /nterest <1(# Cash in hand 1+*# :ffice rent (### /nsurance premium "### :penin! stock )*#'# 8ravellin! e>penses 1*## (1#### (1#### AdBustments :1% Closin! stock $s% 1*#### "% Prepaid insurance premium ,% 4epreciation on furniture 1#D, 9i>tures @ 9ittin!s 1)D '% 2ake provision for Statutory $eserve as per 2aharashtra State Co-operative Societies Act% )% 2ake provision for dividend C <D *% Provide $s% 1#### for 4ividend A0uali=ation 9und Problem (: 9ollo in! ere the balances e>tracted from the books of 4eepak Co-op% Society 6td%,Na!pur as on ,1 st 2arch "##):8rial -alance as on ,1st 2arch "##) 4ebit -alances $s% Credit -alances $s% :penin! stock ')### Share capital *,### -uildin! +)### Sundry creditors (")## 9urniture 1(### Sales 1"+)##

Sundry debtors Cash in hand Cash in bank Purchases $ent Carria!e in ards /nsurance premium Printin! @ stationery -ills receivable Sales returns Salary ?a!es

,+)## -ills payable 1)## "")## *#### ,### 1(## +)# 1"## ,### +)# <### ,### "("###

<###

"("###

AdBustments :1% Closin! stock $s% "#### "% 4epreciation on buildin! and furniture at 1)D is to be provided ,% Enpaid salary $s% )## '% $eserve for doubtful debts at )D on debtors is to be provided )% Provided for 4ividend A0uali=ation 9und $s% ('# *% 2ake provision for dividend C )D p%a% Prepare 9inal Accounts% Problem <: 9ollo in! ere the balances from the books of Na!pur Consumer Co-op% Society 6td% as on ,1 st 2arch "##+ :$s% $s% :penin! stock 31%'%<*5 "#### /nsurance )## -uildin! ,(### Printin! @ stationery (## 4ead stock '"## -ills receivable "### Sundry debtors ")### $eturn in ards )## Cash in hand ,### Salaries *### Cash at bank 1)### ?a!es "### Purchases ,"### Share capital ""### $ent "### Sundry creditors '#### Profit @ 6oss A.c 3cr%5 "### Sales +)### 4epreciation fund ,"## -ills payable 1### Carria!e 1"## Statutory reserve <### AdBustments :1% Closin! stock $s% 1#### "% ?rite off $s% 1### for bad debts and maintain a provision for bad debts at )D on sundry debtors ,% Provide $s% )## for Audit 9ees '% Provide $s% 1## for Aducation Cess )% Provision of $s% "'## is to be made for Secretary7s Fonorarium *% 4epreciate buildin! and 4ead Stock by 1#D +% 2ake provision for Statutory $eserve as per 2aharashtra State Co-op% Societies Act Prepare 9inal Accounts of Na!pur Consumer Co-op% Society 6td% Problem 1#: 8he under mentioned balances appeared in the books of a Co-op% Society 6td% as on ,1 st 2arch "##"% $s

Share Capital *##### 3*#### shares of $s% 1# each5 ;eneral Payable ")#### -ills payable *)"* Creditors ,*()( -uildin!s 1##### Purchases )##<#, S ales <(,<'+ 2anufacturin! e>penses ,)<### Astablishment e>penses "*(1' ;eneral char!es ,1#+( 2achinery "##### 2otor vehicle 1)### 9urniture )### Stocks 1+"#)( 4ebtors 1)<,(# /nvestment "((<)# Cash *)"'# 4irector7s 9ees 1(## 4ividend shareholders 1)## /nterests 3Cr%5 ()'' P @ 6 A.c 1.'."##1 3Cr%5 1*('( Staff Provident 9und ,+)## 9rom these balances and follo in! information prepare tradin! and profit and loss a.c and balance sheet% a5 8he stock on ,1st march "##" ere valued at $s% 1'(*(# b5 Provide $s% 1#### for depreciation of buildin! and $s% (### for the society7s contribution to the staff provident fund c5 /nterest accrued on investments amounted to $s% "+)#%