Question

DE JE U vla
* from the following Receipts and Payments Account and other intormation given, prepare
income and Expenditure Account and the Balance Sheet of the Modern Social Club
RECEIPTS AND PAYMENTS ACCOUNT
for the year ended 31st March 2009
Payments
7.000 By Prizes V
To Suositoas
24.000 By Games Equipments
To Pron Dance Show
14 800 By Rent
To Colechons Matches
2.500 By Rates
1.800 By Printing
To Szes of Refreshments
By Stationery
By Postages
By Secretary's Expenses
By Repairs (Equipment)
By Wages
By Refreshments
5.10
By Balance (31st March, 2009)
13.723
58 300
The following matters should be taken into account:
he Capital Fund as at 1st April, 2005 42,000.
(6) Fixed Assets owned by the Club as at 1st April, 2008- Furniture and Fittings 15,000;
Games Equpments 20.000. These are to be depreciated @ 10% on opening values
() Amounts outstanding as at 31st Mareh, 2009 Printing 100; Refreshments < 700: A
(d) On 31st March, 2009-Rent paid in advance * 1,500; Subscriptions due 51200,
Subscriptions in advance 500.
[Exess of Income over Expenditure 76,300; Balance Sheet Total-** 49.900​

Answer 1

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