Tuesday, 27 November 2012
Following information is available of ABC Club at the end of 31
st
December 2012.
Particulars Rs.
Opening cash balance 10,200
Subscription income 60,000
Salaries paid 72,000
Office expenses 12,000
Utility bills 2,900
Courier charges 500
Bicycle purchased 1,900
Govt. securities purchased 13,600
Bank interest received 200
Sale of furniture 5,000
Interest on investment (Cost of investment Rs. 300,000) 30,000
Closing cash balance 2,500
Other Information:
Subscription income includes Rs. 4,000 for the year 2013 and Rs. 2,400 for the year 2011. Subscription
amounting to Rs. 3,000 is still due for the year 2012. Office expenses include Rs. 1,000 for the year 2011 and
the same amount is still to be paid in the year 2012. Utility bills Rs. 500 is still unpaid. The carrying value of
furniture is Rs. 6,400.
Required:
Prepare the Income and expenditure account for the period ended on 31
st
December 2012 and a
Balance sheet as at that date.
24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra
time should only be used to meet the emergencies and above mentioned due dates should always be treated as
final to avoid any inconvenience.
DEADLINE:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
REFERENCING GuIDELINES:
• Use APA style for referencing and citation. For guidance search “APA reference style” in Google and
read various website containing information for better understanding or visit
http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.
st
December 2012.
Particulars Rs.
Opening cash balance 10,200
Subscription income 60,000
Salaries paid 72,000
Office expenses 12,000
Utility bills 2,900
Courier charges 500
Bicycle purchased 1,900
Govt. securities purchased 13,600
Bank interest received 200
Sale of furniture 5,000
Interest on investment (Cost of investment Rs. 300,000) 30,000
Closing cash balance 2,500
Other Information:
Subscription income includes Rs. 4,000 for the year 2013 and Rs. 2,400 for the year 2011. Subscription
amounting to Rs. 3,000 is still due for the year 2012. Office expenses include Rs. 1,000 for the year 2011 and
the same amount is still to be paid in the year 2012. Utility bills Rs. 500 is still unpaid. The carrying value of
furniture is Rs. 6,400.
Required:
Prepare the Income and expenditure account for the period ended on 31
st
December 2012 and a
Balance sheet as at that date.
24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra
time should only be used to meet the emergencies and above mentioned due dates should always be treated as
final to avoid any inconvenience.
DEADLINE:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.
REFERENCING GuIDELINES:
• Use APA style for referencing and citation. For guidance search “APA reference style” in Google and
read various website containing information for better understanding or visit
http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html
RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.
