Question

14 From the following Recepts and Payment Accounts of Cricket Club and the additional
intonation given, prepare the Income and Expenditure Account for the Year ceding 31-
12- 2018 and Balance sheet as oo that date
RECEIPTS AND PAYMENTS ACCOUNT
for the year ending 31-12-2018
amounts
3.520
27.380
30.000
40.000
Receipts
To balance bd
Cash
Bank
Fixed deposit 66%
To subscription (including
58. 6.000 for 2017)
To entrance fees
To donation
To Interest on Fixed
Deposit
To Tournament Fund
To Sale of Crockery (Book
Value rs. 1200)
Payments
By Maintenance
By Crockery purchased
By March Expenses
By Salaries
By Conveyance
Hy Upkeep of lawas
By Postage and Stamps
By Purchased of Cricket
Goods
By Sundry expenses
By Investments
By Balance c/d
Cash
Bank
Fixed deposit
mounts
6,820
2.650
13.240
11,000
820)
4.240
1,050
9,720
2.000
5.700
18.800
2,750
5,010
900
20.000
2.000
2,200
23,320
30.000
1.31,560
1,31,560
Additional Information:
1 Salary outstanding is Rs 1000
2. Opening Balance of Stock of Postage and Stationery and Cricket gods is R 750
and Rs. 3210 respectively Closing stock of the same is Rs 900 and R. 3800
respectively
3 Outstanding subscription for 2017 and 2018 is Rs 6600 and Rs. 8000
respectively
15. Lalit, Madhur and Necha were partners sharing profits as 50%, 30% and 20
respectively. On 31st March, 2013 their balance sheet was as follows​

Answer 1

Answer:

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