Non-trading Organizations

Non-trading Organizations

Non-trading Organizations Receipts and Payments Account Bar Trading Account Income and Expenditure Account Balance Sheet

Receipts and Payments Account

Receipts and Payments Account Same as cash book Debit side – Receipts Credit side - Payments

Receipts $ Balance at 1.1.2000 1 000 Subscriptions 3 500 Bar sales Example: Lions Club has the following information for the year ended 31 Dec 2000 Receipts $ Balance at 1.1.2000 1 000 Subscriptions 3 500 Bar sales 1 550 Sale of flowers 1 200

Payments $ Rent 2 300 Bar purchases 300 Bar wages 800 Cost of flowers Example: Lions Club has the following information for the year ended 31 Dec 2000 Payments $ Rent 2 300 Bar purchases 300 Bar wages 800 Cost of flowers 900 Equipment 2 000

Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Receipts and Payments Account for the year ended 31 December 2000 Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Bar purchases 300 Bar sales 1 550 Bar wages 800 Sale of flowers 1 200 Cost of flowers 900 Equipment 2 000 Bal c/d ?

Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Receipts and Payments Account for the year ended 31 December 2000 Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Bar purchases 300 Bar sales 1 550 Bar wages 800 Sale of flowers 1 200 Cost of flowers 900 Equipment 2 000 Bal c/d ? 7 250

Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Receipts and Payments Account for the year ended 31 December 2000 Receipts $ Payments Bal b/d 1 000 Rent 2 300 Subscriptions 3 500 Bar purchases 300 Bar sales 1 550 Bar wages 800 Sale of flowers 1 200 Cost of flowers 900 Equipment 2 000 Bal c/d 950 7 250

Exercises: Ex. 34.3 Ex. 34.4X

Bar Trading Account Same as trading account Bar sales Cost of goods sold (opening stock + bar purchases – closing stock) Bar wages Profit to income and expenditure account

Lions Club Bar Trading Account for the year ended 31 Dec 2000 $ Opening stock Bar sales Add Bar purchases Less Closing stock Cost of goods sold Add Bar wages Profit to income and expenditure

Lions Club Bar Trading Account for the year ended 31 Dec 2000 $ Opening stock Bar sales 1 550 Add Bar purchases 300 Less Closing stock Cost of goods sold Add Bar wages 800 Profit to income and expenditure

Additional information Bar stock: At 1.Jan 2000 $300 At 31. Dec 2000 $500

Lions Club Bar Trading Account for the year ended 31 Dec 2000 $ Opening stock 300 Bar sales 1 550 Add Bar purchases Less Closing stock 500 Cost of goods sold Add Bar wages 800 Profit to income and expenditure

Lions Club Bar Trading Account for the year ended 31 Dec 2000 $ Opening stock 300 Bar sales 1 550 Add Bar purchases 600 Less Closing stock 500 Cost of goods sold 100 Add Bar wages 800 900 Profit to income and expenditure

Lions Club Bar Trading Account for the year ended 31 Dec 2000 $ Opening stock 300 Bar sales 1 550 Add Bar purchases 600 Less Closing stock 500 Cost of goods sold 100 Add Bar wages 800 900 Profit to income and expenditure 650

Exercises: Ex. 34.5 Ex. 34.6X