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can you please tell how have you calculated the capital fund, please.

loss of furniture expenditure main q aaye ga ??

gain on investment asakta hai loss on furniture ni

difference between assets and liabilities as capital fund

yes capital fund is diff of assets and liabilities but you must note that we have to account for disposal of asset and further investment as well, which doesn't make it equal to the solution provided by you. same is the problem with my solution as well. i think there is something which is not being accounted for by us..

Cash Account

RECEIPTS                                           Rs.                PAYMENTS                                     Rs.

Opening cash balance                         10,200             Utility bills                                          2,900

Subscription income                            60,000             Salaries paid                                        72,000

Sale of furniture                                  5,000               Courier charges                                   500

Interest on investment                                    30,000             Bicycle purchased                               1,900

Bank interest received                                    200                  Office expenses                                  12,000

Govt. Securities purchased                 13,600

Closing cash balance                           2,500

105,400                                                                      105,400

 

Statement of Affairs

ASSETS                                                                                 Rs.

Cash balance                                                                           10,200

Subscription for 2011                                                             2,400

Furniture                                                                                 6,400

Investments                                                                             300,000

Total                                                                                        319,000

LIABILITIES                                                                       Rs.

Office expenses                                                                      1,000

Capital Fund                                                                         318,000

 

Subscription Income

Subscription income                                                    60,000

Less: Opening balance of accrued income                  2,400

Add: Closing balance of accrued income                   3,000

Less: Opening balance of advance receipts                4,000 

Subscription income for the year                                56,600

 

 

Office Expenses Account

Office Expenses

12000

      O/S Office Expenses for 2011

1000

O/S Office Expenses Paid for 2012

1000

      Office Expenses Paid

12000

13000

13000

Utility Bills Account

Utility Bills 

3400

      Utility Bills Paid

2900

      O/S Utility Bill for 2012

500

3400

3400

 

Income and Expenditure Account

 

Expenditures

 

             Income

Salaries

72000

             Subscription Income for year

56600

Office Expenses

12000

             Bank Interest Received

200

Utility Bills

3400

             Interest on Investment

30000

Courier Charges

500

             Excess of Expenses over Income

2500

Loss on Sale of Furniture

1400

89300

89300

 

 

Balance Sheet

 

Assets

 

           Capital Fund & Liabilities

 

O/S Subscription for 2012

3000

           Subscription Received in Advance

  4000

Cash Balance

2500

           O/S Utility Bills

500

Investement

300000

           O/S Office Expenses

1000

Bicycle

1900

           Capital Fund                       Rs. 318000

Govt Securities

13600

           Less: Excess of Expense     Rs.      2500

           Net Capital Fund

315500

321000

321000

 

got it thanks

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