Question : Raj Kundra Cricket Club was inaugurated on 1st April, 2019. It had the following Receipts and Payments during the year ended 31st March 2020.
Opening balance of cash Rs 20,000 (overdraft).
Receipts: Admission fees Rs 20,000, Subscription Rs 1,20,000. Donation for Building Fund Rs 20,000. Sale of old newspaper Rs 1,000. Life membership fees Rs 50,000. Interest on Investment received Rs 2,500.
Payments: Salaries Rs 15,000, Rent paid Rs 25,000, Investment Rs 30,000. Stationery Rs 4,000. Books Rs 5,000.
Amount in Receipts and Payment Account for the year ended 31st March, 2020 __________.
Option 1: Rs 1,74,500
Option 2: Rs 1,34,500
Option 3: Rs 1,14,500
Option 4: Rs 1,01,500
Correct Answer: Rs 1,14,500
Solution : RECEIPTS AND PAYMENTS ACCOUNT
Hence, the correct option is 3.
Question : Read each sentence to find out whether there is any grammatical error in it. The error, if any, will be in one part of the sentence. The number of that part is the answer
The university has released(a)/two important intormations (b)/ that can
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile