Balance Sheet of Non-Trading Concerns

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on October 13, 2021

The balance sheet in a non-trading concern is prepared in a similar way to the approach followed in a trading concern. In both cases, the balance sheet can be prepared in account form or report form.

If only the receipt and payment account is available, it is not possible to have a balance sheet. This is because complete information regarding the assets and liabilities will not be available from the books.


A summary is given below of cash transactions for the GB Hockey Club for the year ended on 31 December 2017.
GB Hockey Club Cash Transactions
In this example, the club owns buildings amounting to $90,000 and furniture of $8,400, as of 1 January 2017

Required: Prepare an income and expenditure account and balance sheet for the business as of 31 December 2017.


GB Hockey Club Income and Expenditure Account
GB Hockey Club Income and Balance Sheet
Calculations for Working Capital

2 thoughts on “Balance Sheet of Non-Trading Concerns”

  1. This site has been very beneficial to me in knowing the difference between income and expenditure account and receipt and payment account.
    Thanks so much.


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