Question

19.From the following Receipts and Payments A/c of Dramatic &
Sports Club Ambala, prepare an Income and Expenditure A/c for the
year ended 31" March, 2018 and a Balance Sheet as at that date:
Receipts
Rs.
8,400
Cash in hand(1/4/2017)
Subscriptions :
For 2016-17
For 2017-18
For 2018-19
5,000
1,12,400
3,000
Prize Fund
Charity Fund
Sale of waste paper
Endowment fund
Sale of Car
1,20,400
20,000
10,000
1,200
45,000
60,000
2,65,000
Informations:
(a) The club has 1,200 members ,each paying an annual subscription
of Rs.100. In 2016-17 twenty members had paid their subscription
for 2017-18 as well.
(b)On 31" March 2018, Salaries Outstanding amounted to Rs.10,000.
Salaries paid in 2017-18 included Rs.8,000 for the year 2016-17.
(c)On 1/4/2017 the Club had Land & Buildings valued at Rs.5,00,000
and car valued Rs.1,25,000.​

Answer 1

Answer:

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