Session 14 - Receipts and Payments accounts with Balance Sheet

Recommended Books & Texts

• Accounting for Business (3rd ed) — A textbook focused on how accounting supports business decision-making and is suitable for non-specialist managers and business students. Goodreads

• Accounting for Business Studies by Aneirin Owen — Integrates accounting with business & management studies, emphasising the commercial context. Routledge

• Business Accounting (v.2.0) (free online text) — Covers many fundamental accounting topics; good for self-study. 2012 Books

• Accounting, The Language of Business by JoAnn Wood — Openly-licensed, explains accounting as a communication tool in business. Boise State Pressbooks

Useful Online Resources

• Open Textbook Library: “Accounting Principles: A Business Perspective” and others — free downloadable textbooks covering core accounting topics. Open Educational Resources

• Guides listing recommended books for accounting and business: e.g., “Business Recommended Reading by Subject: Accounting”. BYU Library Guides+1

• Articles on accounting fundamentals: e.g., “What Is Accounting? | Introduction to Business” explains accounting as the language of business.

1. What is a Receipts and Payments Account? State any three features.
   
   

2. Why does the Receipts and Payments Account include capital items?
   
   

3. Explain the steps in preparing a Balance Sheet using a Receipts and Payments Account.
   
   

4. Why is a Balance Sheet important for non-trading organisations?
   
   

5. From the following information, compute capital fund:
   
   

   • Cash = ₹18,000
     
     

   • Furniture = ₹25,000
     
     

   • Outstanding salaries = ₹3,000