Income and Expenditure problem solution 2016 Professional Ethics LLB Burdwan University
https://things-for-students.blogspot.com/2019/09/income-and-expenditure-problem-solution_21.html
Golden Rule:
Only revenue transactions of the mentioned year are shown in income and expenditure account i.e. transactions of Capital nature are not shown in Income and Expenditure account.
Receipts
|
Rs.
|
Payments
|
Rs.
|
To Balance b/d
To Fees for appearing at the
court
To fees for legal advice
To fees for drafting legal documents
To remuneration as Guest Lecturer
To Examiner’s fees
To Interest on Bank Deposit
|
30,000
2,50,000
90,000
40,000
24,000
2,000
12,000
|
By Rent of Chamber
By Subscription for journals
By Bar Association subscription
By Salary to staff
By Electric Bill
By Furniture purchase for chamber
By Telephone Bill
By Printing and Stationary
By Car Expenses
By Balance c/d
|
24,000
6,000
1,000
36,000
12,000
8,000
10,000
2,000
15,000
3,34,000
|
4,48,000
|
4,48,000
|
Year 2016 Solution:
Income and Expenditure account for the year ended 31st
March 2016
Dr. Cr.
|
|||
Expenditure
|
Amount
|
Income
|
Amount
|
To Rent of Chamber
To Subscription for Journals
To Bar Association Subscriptions
To Salary to Staff
To Electricity Bill
To Telephone Bill
To Printing and Stationary
To Car Expenses
Surplus(Excess of Income over Expenditure)
|
24,000
6,000
1,000
36,000
12,000
10,000
2,000
15,000
3,12,000
|
By Fees for appearing court
By Fees for legal Advice
By Fees for drafting legal documents
By Remuneration as guest lecturer
By Examiners’ fees
By interest on Bank deposit
|
2,50,000
90,000
40,000
24,000
2,000
12,000
|
4,18,000
|
4,18,000
|