Mock Test?

the answer is correct i feel in the mock test...

Aisha ji, Firstly i thank u to reply. n want to draw ur attantion towards the ques asked, it was not asked in the que., what amount should be taken to income and expenditure a/c.but the asked que is what amount should be taken into receipt n payment a/c.Now let me explain u Rs. 11000/- is the amount which should be credited into income n expenditure a/c. n Rs. 10000/- should be shown in receipt side of the receipt n payment a/c.

i think i m correct. if u have a strong reason of ur answer plz mension the same. 

with regards,

CA Naveen Kumar Agrawal 

I think they have mentioned wrongly as Receipts & Payments a/c instead of Income and expenditure a/c

Dear Naveen

You are right Rs. 10000/- is to be credited in receipt & payment account

But pls let me know how will the amount 11000/- is being calculated by you for income & Expenditure account.

As Rs. 1500/- was related to last year and already booked in income part. This amount is lying pending with the party account so it should not impact this years income and Rs. 2500/- o/s this year should  be booked in income for this year hence the amount credited in Income & Expenditure a/c is Rs. 12500/- as per accrual basis of accounting.

Regards

Rajesh

Your Opinion Is Correct Navinji

Dear Admin & Friens,

thanx 2 appreciate n giving ur feedback too. special thanx to admin for following (sent to me as PM)

Dear Rajesh,

Amount received during the year          10,000/-

Less: opening o/s                                      1,500/-

 amount recd for the current F.Y.             8,500/-

add:   closing o/s for the C. F.Y.               2,500/-

income for the year                                   11,000/-