Question : A sports club received Rs.52,000 as subscription during the year. The club has 750 members each paying an annual subscription of Rs.100 each. Last year, 55 members of the club paid subscription in advance for this year. Subscription outstanding for the year amounts to:

Option 1: Rs.12,500

Option 2: Rs.13,000

Option 3: Rs.17,500

Option 4: Rs.25,000

Question :

Which of the following will not appear on the asset side of the Balance Sheet of a Social Club?

Option 1: Honorarium

Option 2: Sports fund Investment

Option 3: Balance of cash in hand and Bank

Option 4: Outstanding Subscription

Question :

The surplus generated by a not-for-profit organisation is:

Option 1: Distributed amongst the members

Option 2: Added to capital fund

Option 3: Credited to a special fund

Option 4: None of these

Question : In Sports complex, there are 450 members each paying an annual subscription of Rs.100 each. Subscription of Rs.20,000 was received in advance for next year and Rs.15,000 was outstanding for the previous year in the beginning of the year. The amount to be credited to Income and Expenditure Account will be:

Option 1: Rs.55,000

Option 2: Rs.40,000

Option 3: Rs.45,000

Option 4: Rs.60,000

Question :

A club has the policy of capitalising 25% of its entrance fees. The amount of entrance fees capitalised during the year is Rs.50,000. The amount of entrance fees to be shown on credit side of Income and Expenditure A/c will be:

Option 1:

Rs.2,00,000

Option 2: Rs.2,50,000

Option 3: Rs.1,50,000

Option 4: Rs.1,00,000