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Slide 1 : Not For Profit Organisations ACCOUNTANCY Chapter 1 Class XII

Not For Profit Organisations : Not For Profit Organisations Organisations which are formed
not for earning profits bt for a charitable or social prpose are called as not for profit
organisations! F"ATU#"$%& $eparate legal entit' $er(ice moti(e Form Profit& not a moti(ator
Fnding Acconts
Separate legal entity : $eparate legal entit' According to the principle of separate legal entit') a
not for profit organisation is an separate entit' independent of its members! These are the
separate entit' promoted b' indi(idals or companies) bt these are not owned b' the promoters
or managers!
Service Motive : $er(ice *oti(e These organisations are formed For welfare of the societ'! For
pro(iding ser(ices to its members! *ain moti(e is to pro(ide ser(ices!
Form : Form Charitable hospitals $chools Trsts Colleges Clbs +ospitals $ocieties
Profit not a motivator : Profit , not a moti(ator NPOs do not operate with the ob-ecti(e of
earning profits! Their aim is to promote art) science) commerce) religion) cltre) edcation)
charit') sports etc! $ome NPOs ma' in(ol(e in trading acti(ities *ain ob-ecti(e is not to earn the
profit bt to benefit the members and societ'! An' e.cess of income o(er e.penditre is termed
as $U#P/U$ while an' e.cess of e.penditre o(er income is termed as 0"FICIT!
Funding : Fnding The main sorces of income of sch organisations are% $bscriptions from
members) 0onations) /egacies) 1rant&in&aid) Income from in(estments) etc!
Accounts : Acconts The Not&for&Profit Organisations are also re2ired to prepare financial
statements at the end of the each acconting period! The' ha(e to prepare their final acconts at
the end of the acconting period and the general principles of acconting are fll' applicable in
their preparation! The final acconts of a 3not&for&profit organisation4 consist of the following%
#eceipt and Pa'ment Accont Income and ".penditre Accont) and 5alance $heet!
Receipt and Payment Ac : #eceipt and Pa'ment A6c Featres $mmar' of the cash boo7!
#eceipts are recorded on the debit side Pa'ments are entered on the credit side! #ecords all cash
transactions irrespecti(e of the period! Incldes all receipts and pa'ments whether the' are of
capital natre or of re(ene natre! No distinction is made in receipts6pa'ments made in cash or
throgh ban7! No non&cash items sch as depreciation otstanding e.penses accred income) etc!
are shown in this accont! It begins with opening balance of cash in hand and cash at ban7 8or
ban7 o(erdraft9 and closes with the 'ear end balance of cash in hand6 cash at ban7 or ban7
o(erdraft!
Steps: Receipt ! Payment Ac : $teps in preparation of #eceipt : Pa'ment A6c Ta7e the
opening balances of cash in hand and cash at ban7 : enter them on the debit side! In case there is
a ban7 o(erdraft in beginning of the 'ear) it will be recorded on credit side! $how the total
amonts of all receipts on its debit side irrespecti(e of their natre 8whether capital or re(ene9
: whether the' belong to past) present or ftre! $how the total amonts of all pa'ments on its
credit side irrespecti(e of their natre : time period! None of the recei(able income or pa'able
e.pense is to be entered in this accont! Find ot the total of debit side : credit side of the
accont : enter the same on the credit side of cash6ban7! If a balance comes ot to be on debit
side) ta7e it as closing balance of ban7 o(erdraft! $teps% #eceipt : Pa'ment A6c
Format : Format A detailed : comprehensi(e #eceipt : Pa'ment A6c ma' appear as%
Slide 1" :
Slide 1# : A clb has 7ept its acconts on cash basis and the figres for ;<<= are gi(en below!
Yo are re2ired to prepare receipts : pa'ments A6c for the 'ear ;<<>! $oltion%&
$lass Practice %uestion : Class Practice ?estion ?! On 1616<@) the opening balance was #s!
1A)<<< of B! *! Trst) 0elhi! The following transactions were held for the 'ear ended C16C6<A!
From these particlars) prepare a #eceipts : pa'ments accont!
Solution : 0r #eceipt : Pa'ment A6c Cr $oltion
&ncome ! '(penditure Ac : Income : ".penditre A6c It is a nominal accont! D0ebit all
e.penses : credit all incomesE will be followed while preparing it! Opening : closing balance
of cash at ban7 are not shown in it! It does not ta7e into consideration both capital receipts :
capital pa'ments! Closing balance) if comes on debit side is 7nown as srpls : on credit side)
deficit! All non&cash ad-stments li7e depreciation) otstanding or prepaid e.penses : accred or
ad(ance income) pro(ision) etc! need to be ad-sted throgh this accont! It mst be
accompanied b' 5alance sheet in which personal : real acconts are recorded!
Steps : $teps in preparation of Income : ".penditre A6c Prse the #eceipts : Pa'ments
Accont thoroghl'! ".clde opening : closing balance of cash : ban7 as the' are not the
income! ".clde the capital receipts : capital pa'ments! Consider onl' re(ene receipts to be
shown on income side 8credit side9 of this accont for the crrent 'ear whether recei(ed or not!
Ta7e all re(ene e.penses of crrent 'ear on debit side of this accont whether paid or not! Non&
Cash item li7e 0eprecation) pro(isions profit 6 /oss on sale of assets etc! shold be ta7en into
consideration! 5alance if an' in debit side resembles srpls bt on credit side it shows deficit!
$teps
Format : Income : ".penditre A6c For the 'ear ended Format
Slide 1) : Calclation of re(ene e.penditre from re(ene pa'ments%&
$alculation of revenue income from revenue receipts:* : Calclation of re(ene income from
re(ene receipts%&
'(ample : ".ample /oc7er rent recei(ed dring the 'ear 8&9 Otstanding 6 Accred loc7er rent
in the beginning 8&9 Unaccred 6 prepaid 6 ad(ance loc7er rent in the end 8F9 Otstanding 6
Accred loc7er rent in the end 8F9Unaccred 6 prepaid 6 ad(ance loc7er rent in the beginning
/oc7er rent credited to income and e.penditre accont @G<< =;< A<< 1;@< @<< @>G<
'(ample : $oltion% $tep 1! 0etermine the crrent 'ear $tep ;! $ol(e the problem as% ?!
*iscellaneos e.penses paid dring the 'ear ended *arch C1) ;<<H amont to #s! 1@)><<!
Information abot prepaid and otstanding e.penses is as nder% #s! Prepaid e.penses on *arch
C1) ;<<@ 1)><< ".penses npaid on *arch C1) ;<<@ ;)C<< ".penses npaid on *arch C1) ;<<H
;)><< Prepaid e.penses on *arch C1) ;<<H 1)G<< Ascertain the e.penses to be debited to the
Income and ".penditre Accont for the 'ear ended *arch C1) ;<<H! ".ample ".penses paid in
;<<H 8&9 Otstanding e.penses in the beginning 8&9 Prepaid e.pense in the end! 8F9 Otstanding
e.penses in the end! 8F9 Prepaid e.penses in the end! ".penditre incrred 0ebited to income :
e.penditre A6c! 1@)><< ;)C<< 1)G<< ;)><< 1)><< 1@)A<<
'(ample : ".ample
Slide "+ : To #ent G;)G<< Add& O6s #ent C)@<< G@)<<< To +onorarim @1);<< Add Otstanding
=)A<< H1)<<< To postage : stationer' To printing charges >)C<< @1);<< To 0onation To $rpls
8e.cess of income o(er e.penditre9 11)<<< To loss on sale of frnitre H<< @<)1<< ;)>>)C<< 5'
$bscription ;)GA)<<< /ess O6s sbscription 8<G&<>9 ;A)<<< Add O6s $bscription 8<>&<@9
;<)<<< ;)G<)<<< 5' Income from Ad(ertisement 5' $ale of old Newspaper ;)>>)C<< 1G)A<< ><<
$oltion
,&FF'R'N$' : 0IFF"#"NC"
-alance S.eet : 5alance $heet The preparation of their 5alance $heet is on the same pattern as
that of the bsiness entities! It shows assets and liabilities as at the end of the 'ear! Assets are
shown on the right hand side and the liabilities on the left hand side! +owe(er) there will be a
Capital Fnd or 1eneral Fnd in place of the Capital! The srpls or deficit as per Income and
".penditre Accont shall be added to6dedcted to this fnd! It is also a common practice to add
some of the capitalised items li7e legacies) entrance fees and life membership fees directl' in the
capital fnd!
-alance S.eet : Following procedre is adopted to prepare the 5alance sheet! Ta7e the capital
fnd as per opening balance sheet : add srpls or dedct deficit as per income : e.penditre
accont! Frther) add legac') life membership fees) endowment fnd recei(ed dring the 'ear!
Ta7e all fi.ed assets 8not sold or destro'ed9 add additions made dring the 'ear les depreciation
for assets sed dring the 'ear! Compare items on receipt side of receipt : pa'ment A6c with
items on income side of income : e.penditre A6c to determine ad(ances : des! $imilarl')
compare items of pa'ments side of receipt : pa'ment A6c with items of e.penditre side of
income : e.penditre accont to determine prepaid or otstanding e.penses! 5alance sheet
resembles the position statement of the organiIation : is a tre indicator of growth potential!
5alance $heet
Opening -alance S.eet : 5alance sheet as on Opening 5alance $heet
-alance S.eet: At 'nd : Closing balance sheet is prepared at the end of the 'ear after preparing
Income : e.penditre accont! It ma'be shown as%& 5alance $heet% At "nd
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P 1 Opening balance of Cash and 5an7 is transferred to Opening 5alance
$heet and Closing balances of Cash and 5an7 are transferred to Closing 5alance $heet!
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P ; Items on the receipt side of #eceipt : Pa'ment A6c gi(e the Components
for Income $ide for Income : ".penditre A6c!
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P C Items on the pa'ment side of #eceipt : Pa'ment A6c gi(e the
components for ".penditre side for Income : ".penditre A6c!
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P G Items of re(ene natre 8recrring too9 are carried from #eceipt :
Pa'ment A6c and after anal'sing ad-stments if an') total amont for the Crrent 'ear is
transferred to Income : ".penditre A6c!
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P > Items of Capital natre are ad-sted throgh 5alance $heet!
/o0 to ma1e income and e(penditure Ac and -alance S.eet using Receipt ! Payment Ac2
: +ow to ma7e income and e.penditre A6c and 5alance $heet sing #eceipt : Pa'ment A6c!
P#OC"0U#" $T"P @ Ad-stments on Capital Natre Items are not to be considered while
preparing Income : ".penditre A6c!
Slide #3 : P#OC"0U#" #eslt The balance on 0ebit $ide of Income : ".penditre A6c will
show $U#P/U$ while that on Credit $ide will show 0"FICIT! This will be transferred to
Closing 5alance $heet and Added6$btracted as the case ma' be!
Slide #4 : Following is #eceipt : pa'ment of $tanford trst) prepare Income : ".penditre and
balance sheet for the 'ear ended C161;6<> and C161;6<@! Ad-stments% 19 $bscription for ;<<@
still owing were H)<<<! ;9 Interest de on defence bonds was #s! H)<<<! C9 #ent still owing was
#s! 1)<<<! G9 In(estment sold (aled #s! A<)<<<) #s! C<)<<< of In(estment were still in hand! >9
$alar' paid for the 'ear ;<<H is #s! ;)<<<! ?estion
Slide #5 : #ent @)<<< Add O6s #ent 1)<<< H)<<< $alar' 1;)<<< /ess paid for ;<<H% ;)<<< 1<)<<<
Postage C<< "lectricit' charges @)<<< Charit' ;;)<<< /oss on sale of frnitre ;<< $rpls
@C)><< 1)<=)<<< $bscription ;<<@ % AC)<<< Add O6s $bscription% H)<<< =<)<<< Interest on
In(estment ;)<<< Interest on defence bonds H)<<< Profit on sale of in(estment 1<)<<< 1)<=)<<<
$oltion
Slide #) : JO#KIN1 NOT"$% Cash in +and Cash at ban7 $bscription Frnitre In(estment
1G)<<< @<)<<< >)<<< C)G<< 1)1<)<<< 1)=;)G<< 1)=;)G<< 1)=;)G<< Capital fnd $oltion
Slide +6 : Capital fnd 1)=;)G<< Add $rpls @C)><< ;)>>)=<< Otstanding rent 1)<<<
$bscription for ;<<H C)<<< Prepaid salar' Accred interest In(estment 0efence bonds 5oo7s
Frnitre $bscription Cash at ban7 Cash in +and 1<)=<< C<)<<< H)<<< ;<)<<< C)<<< 1)><)<<<
C<)<<< H)<<< ;)<<< ;)>=)=<< ;)>=)=<< $oltion
Terminology for NPOs : Terminolog' for NPOs $bscription 0onation /egac' /ife
membership fee "ntrance fee +onorarim 1rants and sbsidies $tationer' $ale of old assets $ale
of periodicals "ndowment fnd $pecial fnds
Su7scription : $bscription $bscription is a membership fee paid b' the member on annal
basis! This is the main sorce of income of sch Organisations! $bscription paid b' the
members is shown as receipt in the #eceipt and Pa'ment Accont and as income in the Income
and ".penditre Accont! #eceipt and Pa'ment Accont shows the total amont of sbscription
actall' recei(ed dring the 'ear! The amont shown in Income and ".penditre Accont is
confined to the figre related to the crrent period onl' irrespecti(e of the fact whether it has
been recei(ed or not!
Su7scription : $bscription +OJ TO CA/CU/AT" $U5$C#IPTION FO# T+" Y"A#
J+"N $O*" OT+"# IT"*$ #"/AT"0 TO $U5$C#IPITON A#" 1IL"N
Su7scription Ac : $bscription A6c FO#*AT
Slide +8 : As per #eceipt : Pa'ment A6c for the 'ear ended *arch C1) ;<<H) the sbscriptions
recei(ed were #s! 1;) ><)<<<! It is also gi(en that% 1! $bscriptions Otstanding on 1!G!;<<@ #s!
A<)<<< ;! $bscriptions Otstanding on C1!C!;<<H #s! A>)<<< C! $bscriptions #ecei(ed in
Ad(ance as on 1!G!;<<@ #s! G>)<<< G! $bscriptions #ecei(ed in Ad(ance as on C1!C!;<<H #s!
@<)<<< Calclate the amont to be shown in income : ".penditre A6c for the 'ear ;<<@ , <H
and show rele(ant items in balance sheet also! $bscriptions #ecei(ed as per #eceipt and
Pa'ment A6c 1;)><)<<< Add% $bscriptions otstanding on C1!C!;<<H A>)<<< Add% $bscriptions
recei(ed in ad(ance on 1!G!;<<@ G>)<<< 1C)A<)<<< /ess% $bscriptions otstanding on 1!G!;<<@
A<)<<< 1C)<<)<<< /ess% $bscriptions recei(ed in ad(ance on C1!C!;<<H @<)<<< Income from
sbscription for the 'ear ;<<@&<H 1;)G<)<<<
Slide +3 : Alternatel') income recei(ed from sbscriptions can be calclated b' preparing a
$bscriptions accont as nder!
Slide +4 : #ele(ant items of sbscription can be shown in the opening and closing balance sheet
as nder% 5alance sheet as on march C1) ;<<@ 5alance sheet as on march C1) ;<<H
$alculate Su7scription amount to 7e s.o0n in income ! e(penditure Ac from t.e
follo0ing: : Calclate $bscription amont to be shown in income : e.penditre A6c from the
following% A clb recei(ed #s! 1);<)<<< as sbscriptions dring the 'ear ;<<H&<A of which
#s!1C)<<< relate to 'ear ;<<@&<H and #s!;;)<<< to ;<<A&<=) and at the end of the 'ear ;<<H&<A
#s!;@)<<< are still recei(able! Find sbscription recei(ed for the 'ear ;<<H&<A!
Slide +) : The abo(e amont of sbscriptions can also be ascertained b' preparing the
sbscription accont as follows%
,onations : 0onations It is a sort of gift in cash or propert' recei(ed from some person or
organisation! It appears on the receipts side of the #eceipts and Pa'ments Accont! 0onation can
either be specific or general% 1! $pecific 0onations% #ecei(ed for specified prpose li7e
e.tension of the e.isting bilding) constrction of new compter laborator') creation of a boo7
ban7) etc! $ch donation is to be capitaliIed and shown on the liabilities side of the 5alance
$heet! ;! 1eneral 0onations% $ch donations are to be tilised to promote the general prpose of
the organisation! These are treated as re(ene receipts as it is a reglar sorce of income hence) it
is ta7en to the income side of the Income and ".penditre Accont of the crrent 'ear!
Slide 81 :
9egacy : /egac' It is the amont recei(ed as per the will of a deceased person! It appears on the
receipts side of the #eceipt and Pa'ment Accont and is directl' added to capital fnd6general
fnd in the balance sheet) becase it is not of recrring natre! +owe(er) legacies of a small
amont ma' be treated as income and shown on the income side of the Income and ".penditre
Accont!
9ife Mem7ers.ip Fees : /ife *embership Fees $ome members prefer to pa' lmp sm amont
as life membership fee instead of pa'ing periodic sbscription! $ch amont is treated as capital
receipt and credited directl' to the capital6general fnd!
'ntrance Fees : "ntrance Fees "ntrance fee also 7nown as admission fee is paid onl' once b'
the member at the time of becoming a member! In case of organisations li7e clbs and some
charitable instittions) nmber of members is limited and the amont of entrance fees is 2ite
high! +ence) it is treated as non&recrring item and credited directl' to capital6general fnd!
+owe(er) for some organisations li7e edcational instittions) the entrance fees is a reglar
income and the amont in(ol(ed ma' also be small! In their case) it is cstomar' to treat this
item as a re(ene receipt! +owe(er) if there is specific instrction) it is ad(isable to treat the
entire amont as capital receipt and the rele(ant amont shold be directl' added to
capital6general fnd!
/onorarium : +onorarim It is the amont paid to the person who is not the reglar emplo'ee
of the instittion! Pa'ment to a srgeon called for some specific operation or to some artist for
gi(ing performance at the clb is an e.ample of honorarim! This pa'ment of honorarim is
shown on the e.penditre side of the Income and ".penditre Accont!
:rants and Su7sidies : 1rants and $bsidies $chools) colleges) pblic hospitals) etc! depend
pon go(ernment grant and sbsidies for their acti(ities! The recrring grants in the form of
maintenance grant is treated as re(ene receipt 8i!e! income of the crrent 'ear9 and credited to
Income and ".penditre accont! +owe(er) grants sch as bilding grant are treated as capital
receipt and transferred to the bilding fnd accont! It ma' be noted that some Not&for&Profit
organisations recei(e cash sbsid' from the go(ernment or go(ernment agencies! This sbsid' is
also treated as re(ene income for the 'ear in which it is recei(ed!
Stationery : $tationer' Normall' e.penses incrred on stationar') a consmable items are
charged to Income and ".penditre Accont! 5t in case stoc7 of stationer' 8opening and6or
closing9 is gi(en) the approach wold be ma7e necessar' ad-stments in prchases of stationer'
and wor7 ot cost of stationer' consmed and show that amont in Income and ".penditre
Accont and its stoc7 in the balance sheet! For e.ample) the #eceipt and Pa'ment Accont
shows a pa'ment for stationer' amonting to #s! G<)<<< and there is an opening and closing
stationer' amonting to #s! 1;)<<< and #s! 1>)<<<! #s! CH)<<< will be transferred to Income :
".penditre A6c as stationer' consmed!
Slide 85 : $tep !1 Calclation of total stoc7 prchased on credit : cash!
Slide 8) : $tep&; Calclation of $toc7 consmed!
Slide 36 : ?! +ow will 'o deal with the following items while preparing the Income :
".penditre A6c for the 'ear ended on *arch C1) ;<<H!
Slide 31 : $tep ;! Calclation of stationer' consmed! $tep 1! Calclation of prchases
Slide 3" : ".tract of a #eceipt and Pa'ment Accont for the 'ear ended on march C1) ;<<@%
Pa'ments% Creditors for $tationer' #s! @A)<<< Additional information% 0etails 1 April) ;<<>
*arch C1) ;<<@ $toc7 of stationer' 1G)<<< 1C)<<< Creditor for stationer' 1=)<<< 1;)><<
Slide 3# : To Cash @A)<<< To Opening $toc7 1G)<<< 5' Closing $toc7 1C)><< 5' 5alance b6d
1=)<<< To 5alance c6d 1;)><< A<)><< A<)><< @1)><< 5' Prchases To Prchases @1)><< H>)><<
H>)><< 5' $tationer' Consmed @;)><<
Slide 3+ :
Slide 38 : Class Practice ?estion Find ot the cost of medicines consmed dring ;<<@&<H from
the following information%
Slide 33 :
Sale of old assets : $ale of old assets #eceipts from the sale of an old asset appear in the
#eceipts and Pa'ments Accont of the 'ear in which it is sold! 5t an' gain or loss on the sale of
asset is ta7en to the Income and ".penditre Accont of the 'ear! For e.ample) if an item
frnitre with a boo7 (ale of #s! A<< is sold for #s! H<<) this amont of #s! H<< will be shown
as receipt in #eceipts and Pa'ments Accont and #s! 1<< on the e.penditre side of the Income
and ".penditre Accont as a loss on sale of old asset and while showing frnitre in the balance
sheet #s! A<< will be dedcted from its total boo7 (ale!
Sale of periodicals : $ale of periodicals It is an item of recrring natre and shown as the
income side of the Income and ".penditre Accont
'ndo0ment fund : "ndowment fnd It is a fnd arising from a be2est or gift) the income of
which is de(oted for a specific prpose! +ence) it is a capital receipt and shown on the /iabilities
side of the 5alance $heet as an item of a specific prpose fnd!
Special funds : $pecial fnds The Not&for&Profit Organisations office create special fnds for
certain prposes6 acti(ities sch as MpriIe fndsM) Mmatch fndM and Msports fndM) etc! $ch fnds
are in(ested in secrities and the income earned on sch in(estments is added to the respecti(e
fnd) not credited to Income and ".penditre Accont ! $imilarl') the e.penses incrred on sch
specific prposes are also dedcted from the special fnd! For e.ample) a clb ma' maintain a
special fnd for sports acti(ities! In sch a sitation) the interest income on sports fnd
in(estments is added to the sports fnd and all e.penses on sports dedcted there from! The
special fnds are shown in balance sheet! +owe(er) if) after ad-stment of income and e.penses
the balance in specific or $pecial fnd is negati(e) it is transferred to the debit side of the Income
and ".penditre Accont or ad-sted as per prescribed directions!
Slide 41 :
Slide 4" : $how how 'o wold deal with the following items in the final accont of a clb%
$oltion
Slide 4# : 8a9 $how the following information in financial statements of a 3Not&for&Profit4
OrganiIation 8b9 Jhat wold happen if match e.penses go p to #s! =)<<< other things
remaining the sameN
Slide 4+ : 8b9 If match e.penses go p to #s! =)<<<) the net balance of the match fnd becomes
negati(e i!e! 0ebit e.ceeds the Credit) and the resltant debit balance of #s! ;)<<< shall be
charged to the Income and ".penditre Accont of that 'ear!
&ncidental Trading Activities : Incidental Trading Acti(ities $ometimes) trading acti(ities sch
as chemist shop) hospital) canteen) bar etc! also ta7e place in sch organiIations to pro(ide
certain facilities to members or pblic in general! In sch a sitation a trading accont is
prepared to calclate profit or loss from that trading aspect! Procedre% It is (er' important to
ta7e into consideration following two points% Profit or loss calclated b' preparing trading A6c
mst be transferred to Income : e.penditre A6c! Incomes : e.penses related to that incidental
acti(it') which is not recorded in trading A6c) are also to be considered while preparing! Income
: e.penditre A6c!
Slide 43 : The assets and liabilities on the *illennim Cric7et Clb on April 1) ;<<H were% Clb
hose and grond #s! 1<) <<)<<<O Creditors for bar spplies #s! C)G1)<<<O "2ipment #s!
C)G>)<<<O 5an7 #s! 1)CG)><<O 5ar stoc7s #s! =;);G<! At the end of *arch ;<<A) the following
frther information was a(ailable% $bscriptions #s! C>)<<< recei(ed this 'ear related to the ne.t
'ear! Creditors for bar spplies #s! C)><)<<<! 5ar stoc7s #s! AG)CA<! 0epreciate e2ipment b'
#s! @>)<<< Prepare for the *illennim Cric7et Clb% 8i9 the bar Trading Accont for the 'ear
ended *arch C1) ;<<HO 8ii9 the Income and ".penditre Accont for the 'ear ended march C1)
;<<HO and 8iii9 the 5alance $heet as on *arch C1) ;<<H!
Slide 44 :
Slide 45 :
Slide 4) : Than7 Yo