Question

Read the following information provided by a school and attempt Question 46-50
The Trial Balance of a school as on 31.3.2017 isDebit Balance| Amount
(₹)| Credit Balance| Amount
(₹)
---|---|---|---
Building| 6,25,000| Admission fees| 12,500
Furniture| 50,000| Tuition fees received| 5,00,000
Library books| 1,50,000| Creditors for supplies| 15,000
Investment @ 12% (14.16)| 5,00,000| Rent for the school hall| 10,000
Salaries| 5,00,000| Miscellaneous receipes| 30,000
Stationery| 40,000| Legacies (general)| 3,50,000
General expenses| 18,000| General fund| 10,00,000
Sports expenses| 15,000| Donation for library books| 62,500
Cash at bank| 1,00,000| Sale of old furniture| 20,000
Cash in hand| 2,000| |
| 20,00,000| | 20,00,000
Additional Information :
The book value of the furniture sold was ₹ 50,000 on April 1, 2016 was sold for ₹ 20,000.