19. From the following Receipts and Payments Account of Sourabh Welfare Club for the year ended 31st March 2020 and the additional information, prepare Income and Expenditure Account and Balance Sheet of the Club.
Receipt and Payments Account for the year ending 31" December 2019
Receipt To Balance b/d (Cash)
To Subscriptions For 2018-19
75,000
For 2019-20 1,00,000
For 2020-21 To Income from Sports
(matches)
To Interest on 8% Govt.
Securities
To Profit from Entertainment To Rent of Hall
Additional Information:
25,000
Amount
Payment
50,000 By Salaries By Stationery
By Rates and Taxes
By Telephone Charges
2,00,000 By 8% Govt. Securities at par
60,000
5,000
25,000
10,000
3,50,000
By Sundry Expenses
By Billiard Table
By Furniture
By Courier Service Charges
By Balance c/d (Cash)
Amount
80,000 4,500
1,500
1,000
25,000 38,000
70,000
3,000
27,000
3,50,000
(a) There are 1000 members, each paying an annual subscription of Rs. 125. Subscription in arrears in the beginning Rs.87,500 and 100 members paid subscription in advance for 2019-20 (b) Stock of stationery on March 31, 2019 was Rs. 1,500 and on 31st March 2020 Rs.2,000. (c) On March 31, 2020 the Rates and Taxes were prepaid to the following January 31, the annual
charges being Rs.1,500. (d) Value of 8% Government Securities on 31st March 2019 was Rs.75,000 which were purchased at par on that date. Additional Government Securities worth Rs. 25,000 were purchased on 31.3.2020.
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Subscription in arrears in the beginning Rs.87,500 and 100 members paid subscription in advance for 2019-20 (b) Stock of stationery on March 31, 2019 was Rs. 1,500 and on 31st March 2020 Rs.2,000. (c) On March 31, 2020 the Rates and Taxes were prepaid to the following January 31, the annual
charges being Rs.1,500. (d) Value of 8% Government Securities on 31st March 2019 was Rs.75,000 which were purchased at par on that date. Additional Government Securities worth Rs. 25,000
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