The following is the Receipts and Payments account of Apollo Hospital

1.	The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012. Receipts and Payments A/c ReceiptsAmount(Rs)PaymentsAmount (Rs)To Balance b/d8,500By Pament for Medicines33,000To Subscriptions4,000by Fees to Doctors24,000To Donations15,000By Salaries27,000To Interest on Investments9%By Equipments Purchased15,000for the year9,000By Charity Show Expenses4,000To Proceeds from Charity Show12,000By Sundry Expenses1,200To Grant-in-Aid20,000By Balance c/d8,300¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500–––––––––– (a)Other Information:1.4.201131.3.2012(b)Subscription received in advance5001,000(c)Stock of Medicines10,00015,000(d)Amount due to Medicine Suppliers8,00012,000(e)Value of Equipments25,00033,000(f)Value of Buildings70,00065,000 You are required to prepare: (i) Income and Expenditure Account for the year ended 31st March, 2021; and (ii) Balance Sheet as on that date.
Answer» The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012. Receipts and Payments A/c $\begin{matrix} Receipts & Amount(Rs) & Payments & Amount (Rs) To Balance b/d & 8, 500 & By Pament for Medicines & 33, 000 To Subscriptions & 4, 000 & by Fees to Doctors & 24, 000 To Donations & 15, 000 & By Salaries & 27, 000 To Interest on Investments 9 % & By Equipments Purchased & 15, 000 for the year & 9, 000 & By Charity Show Expenses & 4, 000 To Proceeds from Charity Show & 12, 000 & By Sundry Expenses & 1, 200 To Grant-in-Aid & 20, 000 & By Balance c/d & 8, 300 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 12, 500 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 12, 500 - -------- - \end{matrix}$ $\begin{matrix} (a)Other Information: & 1.4.2011 & 31.3.2012 (b)Subscription received in advance & 500 & 1, 000 (c)Stock of Medicines & 10, 000 & 15, 000 (d)Amount due to Medicine Suppliers & 8, 000 & 12, 000 (e)Value of Equipments & 25, 000 & 33, 000 (f)Value of Buildings & 70, 000 & 65, 000 \end{matrix}$ You are required to prepare: (i) Income and Expenditure Account for the year ended 31st March, 2021; and (ii) Balance Sheet as on that date.

The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012. Receipts and Payments A/c ReceiptsAmount(Rs)PaymentsAmount (Rs)To Balance b/d8,500By Pament for Medicines33,000To Subscriptions4,000by Fees to Doctors24,000To Donations15,000By Salaries27,000To Interest on Investments9%By Equipments Purchased15,000for the year9,000By Charity Show Expenses4,000To Proceeds from Charity Show12,000By Sundry Expenses1,200To Grant-in-Aid20,000By Balance c/d8,300¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500–––––––––– (a)Other Information:1.4.201131.3.2012(b)Subscription received in advance5001,000(c)Stock of Medicines10,00015,000(d)Amount due to Medicine Suppliers8,00012,000(e)Value of Equipments25,00033,000(f)Value of Buildings70,00065,000 You are required to prepare: (i) Income and Expenditure Account for the year ended 31st March, 2021; and (ii) Balance Sheet as on that date.

Answer»

The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012.

Receipts and Payments A/c

$\begin{matrix} Receipts & Amount(Rs) & Payments & Amount (Rs) To Balance b/d & 8, 500 & By Pament for Medicines & 33, 000 To Subscriptions & 4, 000 & by Fees to Doctors & 24, 000 To Donations & 15, 000 & By Salaries & 27, 000 To Interest on Investments 9 % & By Equipments Purchased & 15, 000 for the year & 9, 000 & By Charity Show Expenses & 4, 000 To Proceeds from Charity Show & 12, 000 & By Sundry Expenses & 1, 200 To Grant-in-Aid & 20, 000 & By Balance c/d & 8, 300 ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 12, 500 - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 12, 500 - -------- - \end{matrix}$

$\begin{matrix} (a)Other Information: & 1.4.2011 & 31.3.2012 (b)Subscription received in advance & 500 & 1, 000 (c)Stock of Medicines & 10, 000 & 15, 000 (d)Amount due to Medicine Suppliers & 8, 000 & 12, 000 (e)Value of Equipments & 25, 000 & 33, 000 (f)Value of Buildings & 70, 000 & 65, 000 \end{matrix}$

You are required to prepare:

(i) Income and Expenditure Account for the year ended 31st March, 2021; and

(ii) Balance Sheet as on that date.

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