Question

Following is the receipt and Payment Account of an Entertainment Club for the
period April 1, 2015 to March 31, 2016.
Recept Payment Account for the year ending March 31, 2016
Art Perts
27.300
24.000
21.000
50.000
Salaries
Electrie bill
87.500 Food stuff for restaurant
Telephone om
Subscription for periodicals
Printing and stationery
1.22.500 Sports expenses
Secretary's honorarium
10,000 8% Investments (31.3.2007
1.00.000 Balance c/d:
3.200 Cash
Bank
18.750
Meribers scriptions
2014-2015
- 12 500
2015-2016
L.00.000
2016-2017
10.000
Sale of furniture
Tetske Rs. 8.000)
Sale of food safe
Sale o old persodicals
and newspapers
Hire of ground used
for marriage
Donation for sports Fuad
Lacier Rest
1500
13.000
50.000
30.000
100.000
1. Den
25.000
17,050
4.14.000
Hans
4.14.000
Additional Information
1. The dubs had 225 members, each paying an annual subscription of Rs. 500.
Subscription outstanding as on 31 March 2016 Rs. 15.000
2 Telephone baloutstanding for the year 2015-2018 is Rs 2.000
3 Locker Rent Rs 3.050 outstanding for the year 2014-15 and Rs. 1.500 for
2015 16
4. Salary outstanding for the year 2015-16 Ra. 4.000
5. Opening Stock of Printing and stationery Rs. 2.000 and coming stock of printing
and stationery is Rs 3.000 for the year 2015-16
6. On 15 April 2015 other balances were as under
Furniture
1.00.000
Building
6.50.000
Sports fund
15.000
7. Depreciation Furniture and Building a 125% and 56 respectively assuming that
It is on reducing balance for the year ending March 31-2016
Prepare income and Expenditure account and Batarree Sheet as on
that date​

Answer 1

Answer:

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Answer 2

Here is the

Income and Expenditure A/C

Opening Balance Sheet

Closing Balance Sheet