Question :

How much amount will be shown in Income and Expenditure Account as depreciation of sports equipments, if sports equipments at the beginning and end of the year is valued at Rs.80,000 and Rs.1,10,000 respectively and sports equipment of 50,000 is purchased during the year?

Option 1:

Rs.30,000

Option 2:

Rs.20,000

Option 3:

Rs.8,000

Option 4: Nil

Question :

Salary paid by Lancer Club for the year is Rs.1,80,000. Outstanding salary in the beginning and end of the year is Rs.10,000 and Rs.6,000 respectively. The amount to be debited to Income and Expenditure Account will be:

Option 1:

Rs.1,84,000

Option 2:

Rs.1,90,000

Option 3: Rs.1,86,000

Option 4: Rs.1,76,000

Question :

Salary outstanding in the beginning of the year is Rs.75,000 and at the end of the year is Rs.90,000. The amount debited to Income and Expenditure Account is Rs.1,50,000, then the amount of salary to the credit of Receipts and Payments A/c is:

Option 1:

Rs.1,85,000

Option 2:

Rs.1,65,000

Option 3: Rs.1,35,000

Option 4: None of these

Question :

Sale of used sports material for Rs.500 by a cricket club should be:

Option 1:

Credited to Income and Expenditure A/c

Option 2:

Debited to Income and Expenditure A/c

Option 3:

Added to capital fund

Option 4: None of these

Question :

Receipts and Payments Account does not include which of the following?

Option 1:

Non-cash items such as depreciation

Option 2:

Outstanding expenses

Option 3:

Accrued income

Option 4: All of these