Archive about 'Non-Trading Concerns'

Format of Trading,Income and Expenditure Account and Balance Sheet Of A Non-Trading Organization

  FORMAT OF BALANCE SHEET OF A NON TRADING ORGANIZATION  

Answer To True Or False Questions On Accounts Of Non Trading Concern

REFER TO QUESTIONS True False 1.0 Receipts and payments account starts with the balance in the beginning and ends with the balance at the end X 2.0 Income and expenditure account is a real account X 3.0 General donations of small amount appearing in Receipts and Payments account are treated as income and carried to [...]

True & False Question With Answers On Accounts Of Non Trading Concerns

QUESTIONS [  CLICK HERE FOR ANSWER] True False 1.0 Receipts and payments account starts with the balance in the beginning and ends with the balance at the end 2.0 Income and expenditure account is a real account 3.0 General donations of small amount appearing in Receipts and Payments account are treated as income and carried [...]

List Of Topics Under The Heading Non Trading Organizations

Click to the respective topic on Non Trading Organizations: Content Page On NON TRADING ORGANIZATIONS 1.0 Accounting For Non Trading Concerns – Part 1 2.0 Accounting For Non Trding Concerns – Part 2 3.0 Non Trding Concerns And Its Financial Statements 4.0   QUESTIONS BANK: Accounting Test Question No NT 1 Answer to Accounting Test [...]

Accounting Test Question No.NT 2 On Non-Trading Organization

Question No NT 2 On Non-Trading Organization The following statement has been prepared for the XYZ Social Club: Receipts and Payments Account for the year ended 30 April 2007   $   $ Balance at bank at 1 May 2006 1,950 Payment for food and drink 6,320 Subscriptions 4,975 Wages 8,790 Cafeteria takings 11,860 New [...]

Answer To Accounting Test Question NT No. 1 On Non-Trading Organizations

Answer to Accounting Test Question NT No.1: ABC Sports Club (a) Subscriptions Account 2005 $ 2005 $ Jun 1 Balance b/d 1,230 Jun 1 Balance b/d 100 Income & Expenditure a/c 69,826 Receipts a/c 70,066 2006 2006 May 31 Balance c/d 450 May 31 Balance c/d 1,340 71,506 71,506 (b) Rates Account 2005 $ 2006 [...]

Accounting Test Question NT No. 1 On Non-Trading Organization

Accounting Test Question NT No 1: Question: ABC Sport Club produced the following information relating to the Club’s financial year ended 31 May 2006 Receipts and Payments Account for the year ended 31 May 2006 $ $ Balance at bank at 1 Jun 2005 1,076 Groundsmen’s wages 18,500 Sales of refresments 7,160 Purchase of refreshments [...]

Non-Trading Concerns – Its Financial Statements ( Part 3)

This article explained what’s are the financial statements of a non-trading concern: What are the Financial Statement of A Non-Trading Concern:   They are the following:   · Receipts and Payments Account; · Income and Expenditure Account ( also includes the Trading account if it runs restaurant or bar) · A Balance Sheet if it [...]

Accounting For Non-Trading Concerns ( Part 2)

This article explained what’s normally is the sources and expenditure of a non-trading concern. Sources of Income In a Non-Trading Concern Revenue in nature: ·  Entrance fees; ·  Subscriptions; · Interest from investment; · Visitors fees; · Lockers fees; · Gross trading profit from bar or restaurant; · Refreshment receipts; · Donations;   Capital in nature   · Legacies; · Donations ( if [...]

Accounting For Non-Trading Concerns ( Part 1)

Unlike a normal trading concern, non trading concerns like clubs, societies and association are incorporated without the motive of making profits. Their main objective is to promote amongst its members recreational interest. However, some clubs and societies which run bars or restaurant for the convenient of the member on a permanent basis with the intention [...]