Following information has been given for Bharat Sports Club, Delhi for the year ending 31.12.2016 and 31.12.2017.
31.12.2016 31.12.2017
60,000
5,000 3,000
12,000
6,000
6,000
1,000 2,000
20,000
2,000
6,000
8,000
4,000
6,000
2,000
3,000
4,000
64,000
2,000
Building (subject to 10% depreciation for the current year)
Furniture (subject to 10% depreciation for the current year)
Stock of Sports Materials Prepaid Insurance
Subscription receivable
Advance Subscription
Locker Rent receivable
Advance Locker Rent received
Outstanding Rent for Godown
12% General Fund Investments
Accrued Interest on above
Cash Balance Bank Balance
Bank Overdraft
Additional Information:
(1) Entrance fees received 20,000, Life membership fees received 20,000 during the year (ii) Surplus from Income and Expenditure Account 60,000.
(i) It is the policy of the club to treat 60% of entrance fees and 40% of life membership fees as
revenue nature.
(iv) The furniture was purchased on 01.01.2017.
Prepare Opening and Closing Balance Sheet of Bharat Sports Club as on 31 December, 2016 and 31 December, 2017 respectively.
Answers
Answered by
1
Answer:
12;0000 is with answer
Explanation:
12000
Answered by
2
Answer:
3,62,000
Explanation:
In given question they only ask for the old & new B/S
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