Scribd
Upload
5 views1 page

Income & Expenditure Account Tutorial

The document provides a financial overview of Nexora Tech Co. Ltd for the year ending March 31, 2019, including a detailed receipt and payment account. It outlines various financial transactions, including income from subscriptions and expenses such as salaries and rent. Additionally, it includes additional information regarding stock and outstanding amounts that are necessary for preparing the Income and Expenditure Account and Statement of Financial Position.

Uploaded by

Nilarwin
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
5 views1 page

Income & Expenditure Account Tutorial

The document provides a financial overview of Nexora Tech Co. Ltd for the year ending March 31, 2019, including a detailed receipt and payment account. It outlines various financial transactions, including income from subscriptions and expenses such as salaries and rent. Additionally, it includes additional information regarding stock and outstanding amounts that are necessary for preparing the Income and Expenditure Account and Statement of Financial Position.

Uploaded by

Nilarwin
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Tutorial II

Financial Accounting
BM 2102
I. From the following receipts and payments of Nexora Tech [Link] and information
given below:
Receipt and Payment Account for the year ending March 31, 2019
Receipts Amount Payments Amount
$ $
Cash in hand as on 1.4.18 10,200 Salaries 36,000
Subscription 90,300 Traveling expenses 9,000
Interest on investment (5% 7,500 Repair 1,050
for full year)
Entrance fee 1,200 Books purchased 9,000
Life membership fee 10,500 Building purchased 45,000
Donation 4,500 Stationery 3,450
Sale of furniture (Book value 6,000 Rent 24,000
$ 6,000)
Cash in hand as 31.3.2019 2,700
130,200 130,200

Additional Information:
1.4.2018 31.3.2019
$ $
1 Stock of stationery 1,800 1,200
2 Books 20,250 24,750
3 Furniture 24,000 12,000
4 Subscription received in advance 1,500 4,800
5 Outstanding subscription 3,000 5,550
6 Outstanding rent 1,500 3,000

Required: Prepare Income and Expenditure Account for the year ending March 31,
2019 and Statement of Financial Position as that date.

You might also like