Question

Receipt and Payment Account for the year ended 31.12.2011 \begin{tabular}{|c|c|c|c|} \hline Receipts & TZS. & Payments & TZS. \\ \hline Balance b/d & & Salaries & \( 3,000,000 \) \\ \hline Cash & \( 1,000,000 \) & Printing \& Stationery & \( 4,000,000 \) \\ \hline Bank & \( 4,000,000 \) & Rent & \( 8,000,000 \) \\ \hline Subscriptions & & Honorarium & \( 5,000,000 \) \\ \hline \( 2010-5,000,000 \) & & Postage & 100,000 \\ \hline 2011 - 20,000,000 & & Sports Materials & \( 2,900,000 \) \\ \hline \( 2012-1,000,000 \) & \( 26,000,000 \) & Investments & \( 5,000,000 \) \\ \hline Legacies & \( 4,000,000 \) & Transport Expenses & \( 1,000,000 \) \\ \hline \begin{tabular}{l} Sale of old sports \\ material \end{tabular} & \( 1,000,000 \) & Furniture & \( 6,000,000 \) \\ \hline Interest on investment & \( 1,500,000 \) & Balance c/d & \\ \hline \multirow[t]{2}{*}{ Sundry income } & 500,000 & Cash & \( 1,500,000 \) \\ \hline & & Bank & \( 1,500,000 \) \\ \hline \end{tabular} Illustration Question 2 Adjustments: - 1. Subscription still outstanding for 2011 TZS.2,000,000 and subscription received in advance in 2010 for 2011 TZS.800,000 - 2. Interest on investments includes TZS.500,000 relating to 2010 and sundry income still accrued TZS.700,000 - 3. Rent pre-paid TZS.2,000,000 and stationery outstanding TZS. \( 1,000,000 \) - 4. Depreciate buildings and Furniture by \( 10 \% \) - 5. The ledger account balances as on 1.1.2011 were: - Building - TZS.40,000,000 - Furniture - TZS.10,000,000 - Sports materials - TZS.5,000,000 ILLUSTRATION QUESTION TWO Required: - From the above information relating to Dar Young African Sports Club prepare statement of income and expenditure and statement of financial position for the year ending 31.12.2011.

          Receipt and Payment Account for the year ended 31.12.2011
\begin{tabular}{|c|c|c|c|}
\hline Receipts & TZS. & Payments & TZS. \\
\hline Balance b/d & & Salaries & \( 3,000,000 \) \\
\hline Cash & \( 1,000,000 \) & Printing \& Stationery & \( 4,000,000 \) \\
\hline Bank & \( 4,000,000 \) & Rent & \( 8,000,000 \) \\
\hline Subscriptions & & Honorarium & \( 5,000,000 \) \\
\hline \( 2010-5,000,000 \) & & Postage & 100,000 \\
\hline 2011 - 20,000,000 & & Sports Materials & \( 2,900,000 \) \\
\hline \( 2012-1,000,000 \) & \( 26,000,000 \) & Investments & \( 5,000,000 \) \\
\hline Legacies & \( 4,000,000 \) & Transport Expenses & \( 1,000,000 \) \\
\hline \begin{tabular}{l} 
Sale of old sports \\
material
\end{tabular} & \( 1,000,000 \) & Furniture & \( 6,000,000 \) \\
\hline Interest on investment & \( 1,500,000 \) & Balance c/d & \\
\hline \multirow[t]{2}{*}{ Sundry income } & 500,000 & Cash & \( 1,500,000 \) \\
\hline & & Bank & \( 1,500,000 \) \\
\hline
\end{tabular}

Illustration Question 2
Adjustments:
- 1. Subscription still outstanding for 2011 TZS.2,000,000 and subscription received in advance in 2010 for 2011 TZS.800,000
- 2. Interest on investments includes TZS.500,000 relating to 2010 and sundry income still accrued TZS.700,000
- 3. Rent pre-paid TZS.2,000,000 and stationery outstanding TZS. \( 1,000,000 \)
- 4. Depreciate buildings and Furniture by \( 10 \% \)
- 5. The ledger account balances as on 1.1.2011 were:
- Building - TZS.40,000,000
- Furniture - TZS.10,000,000
- Sports materials - TZS.5,000,000

ILLUSTRATION QUESTION TWO
Required:
- From the above information relating to Dar Young African Sports Club prepare statement of income and expenditure and statement of financial position for the year ending 31.12.2011.

Receipt and Payment Account for the year ended 31.12.2011

Receipts TZS. Payments TZS.

Balance b/d Salaries 3,000,000

Cash 1,000,000 Printing & Stationery 4,000,000

Bank 4,000,000 Rent 8,000,000

Subscriptions Honorarium 5,000,000

2010-5,000,000 Postage 100,000

2011 - 20,000,000 Sports Materials 2,900,000

2012-1,000,000 26,000,000 Investments 5,000,000

Legacies 4,000,000 Transport Expenses 1,000,000

Sale of old sports

material
1,000,000 Furniture 6,000,000

Interest on investment 1,500,000 Balance c/d

[t]2* Sundry income 500,000 Cash 1,500,000

Bank 1,500,000

Illustration Question 2
Adjustments:
- 1. Subscription still outstanding for 2011 TZS.2,000,000 and subscription received in advance in 2010 for 2011 TZS.800,000
- 2. Interest on investments includes TZS.500,000 relating to 2010 and sundry income still accrued TZS.700,000
- 3. Rent pre-paid TZS.2,000,000 and stationery outstanding TZS. 1,000,000
- 4. Depreciate buildings and Furniture by 10 %
- 5. The ledger account balances as on 1.1.2011 were:
- Building - TZS.40,000,000
- Furniture - TZS.10,000,000
- Sports materials - TZS.5,000,000

ILLUSTRATION QUESTION TWO
Required:
- From the above information relating to Dar Young African Sports Club prepare statement of income and expenditure and statement of financial position for the year ending 31.12.2011.

Added by Rashid M.

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