Where a Non-Profit organization is a separate trading activity, the profit/ loss from the trading account shall be transferred to Income Expenditure Account at the time of consolidation. [RTP Jan. 2025]

The following Trial Balance is the Trial Balance of a Proprietor as on March 31st 2024. Prepare Trading and Profit & Loss Account for the year ending March 31st 2024 and a Balance Sheet as at that date. Particulars Amount Particulars Amount Plant and Machinery 5,00,000 Capital 4,00,000 Office Furniture 26,000 Sundry Creditors 5,20,000 Opening stock 4,80,000 Sales 48,00,000 Motor van 1,20,000 Bills payables 56,000 Sundry debtors 4,57,000 Provision for doubtful doubts 25,000 Cash in hand 4,000 Return outwards 55,000 Cash at Bank 65,000 Discount received 37,000 Wages 15,00,000 Salaries 1,40,000 Purchases 21,35,000 Bills Receivable 72,000 Return inwards 93,000 Drawings 70,000 Advertisements 60,000 Factory Rent 8,000 Insurance 63,000 General Expenses 10,000 Bad debts 25,000 Discount allowed 65,000 58,93,000 58,93,000 Additional Information to be considered: (i) Closing Stock on March 31st 2024 is 5,20,000. (ii) During the year, Plant and Machinery was purchased for ₹ 3,00,000 but it was debited to Purchase Account. (iii) 3 months factory rent is due but not paid ₹ 3,000. (iv) Provide depreciation at 5% per annum on furniture and 10% on plant and machinery and motor van. (v) Further bad debts 7,000. (vi) Provision for doubtful debts to be increased to ₹ 30,000 at year end. (vii) Provision for discount on Debtors to be made at 2%. [Sept. 2024, 10 Marks]

Income and Expenditure A/c

Receipt and Payment A/c

Entrance Fees

Membership fees

Donation