Npo doubt

hi... pls take a screen shot of that question and post it here....

50000-300+260= 49960

Hi ankush thankyou for your suggestion.Your solution is ok.

kindly suggest me regarding that Q has asked to prepare I&E a/c then this year expenditure is already incurred. we should debit entire Rs50000,why U have done calculation for entire additional information

Dear frnd !!!

R&P = show the cash basis that means 50000 paid for repair.

I&E = shown the all the exp. on due basis for that year..

that's why we should shown in I&E 50000+260-300=49960

Originally posted by : Knowledge gainer
	Hi ankush thankyou for your suggestion.Your solution is ok. kindly suggest me regarding that Q has asked to prepare I&E a/c then this year expenditure is already incurred. we should debit entire Rs50000,why U have done calculation for entire additional information

actually receipts and payment account shows the amount paid on expenditure whether it is for previous year or next year, in this question amount paid is 50,000 which includes 300 paid for the last year so 300 will be deducted and 260 amount is currently not paid in this year so it will be added as O/S for current year.

300 will be shown as o/s balance in SOA

260 will showns as o/s balance in Balance sheet