Question

4. From the following Income & Expenditure Account of Saksham Club for the year ending 31st March 2020, Balance Sheet as on 1 st April 2019 and additional information, prepare Receipt and Payment Account for the year ending 31st March 2020 & a Balance sheet as on 31st March 2020. Income & Expenditure Account (For the year 31st March 2020) Expenditure Rs. Income Rs. To Salaries 6.000 By Subscription 11,280 To Rent 1,320 By Entrance Fee 720 To Travelling Expenses 60 By Donation 1,200 To Printing and Stationery 120 By Interest 600 To General Expenses 180 To Equipment used 3,000 To Surplus 3,120 13,800 13,800 Balance Sheet as on 1st April 2019 Liabilities Rs. Assets Rs. Capital Fund 20,700 Furniture 4,000 Rent outstanding 120 Building 8,000 Salaries outstanding 780 Investment 6,000 Sports Equipment 1,200 Bank '1,680 Accrued Interest 120 Subscription Due 600. 21,600 21,600 Additional Information: (Balance as on 31st March 2020) Subscription receivable was Rs.960 Salaries outstanding was Rs.480 Rent outstanding was Rs.240

Answer 1

Explanation:

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