Following is the Receipts and Payments Account of Radhika Club for the year ended 31.03.2018:
Additional Information:
(i) Subscriptions outstanding as on 31.3.2017 were 2,000 and on 31.3.2018 3,000.
(ii) On 31.3.2018 salary outstanding was 4,000 and rent outstanding was 1,000.
(iii) On 1.4.2017 the Club owned furniture 20,000 and books 18,000.
Prepare Income and Expenditure Account of the Club for the year ended 31.3.2018 and ascertain the Capital Fund on 31.3.2017.
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assuming subscription outstanding on on 31st March 2018 ₹3000 includes arears ₹ 500 of 2017
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