a Receipts and Payments account For the year ended 31st March 2020 Receipts Amount Amount Payments Amount To Bal. b/d Amount 7,000 By Stationey To Subscription 8,000 By Postage 1,000 2018-19 5,000 By Picnic Exp. 8,000 2019-20 83,000 By salaries 8,000 2020-21 2,000 90,000 By Annual general To Entrance fees 13,000 meeting exp. 4,500 (capital receipts) By Traveing exp. 7,500 To Donation 60,000 By Rent 12,000 To Eegacies 40,000 By Charity 7,800 To interest on Deposit. 7,000 By Sundry exp. 3,200 To Picnic receipst 10,000 By Fixed deposit 1,10,000 By Furniture 50,000 By Bal. c/d 7,000 2,27,000 2,27,000 Adjustment:- 1. Outstanding subscription for current year Rs. 7,000. 2. Furniture was purchase on 1st Oct. 2019 and it is to be depreciated by 10% p.a. 3. Outstanding picnic receipts Rs.7,500. 4. Stock of stationay on 1-4-2019 was Rs.350 and on 31st March, 2020 was Rs.1,700. 5. 50% of legacies and full amount of donation are to be capitalised. With the above information, you are required to prepare Income and Expenditure account for the year ended 31st March 2020.
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