Following is the Receipts and Payments Account of Citizen Club for the year
ended 31st March, 2018:
Receipts ` Payments `
To Balance b/d
To Subscriptions (including
`10,000 for 2018-19)
To Life Membership Fee
To Interest on Investments
@ 7% p.a. for full year)
2,40,000
5,80,000
25,000
28,000
8, 73,000
By Rent
(paid for 11 months)
By Insurance
By Salaries
By Stationery purchased
By Balance c/d
1,76,000
3,000
2,64,000
60,000
3,70,000
8,73,000
Prepare Income and Expenditure Account for the year ending 31st March,
2018 and the Balance Sheet as at that date after considering the following
information: 8
(a) Subscription in arrear on 31st March, 2017 were `30,000 and on 31st
March 2018 were `48,000.
(b) Stock of stationery on 31st March, 2017 was `5,000 and on 31st March,
2018 `14,000.
(c) Insurance was paid on 1st January 2018 to run for one year. hi please don't spam.....
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