Question

From the following information and Receipts and Payments Account of Delhi Medical Society, prepare Income and Expenditure Account for the year ended 31st March, 2018 and Balance Sheet as at that date.
Other information:
On 31st March, 2017, the club possessed books of ₹ 2,00,000 and Furniture of ₹ 85,000. Provide depreciation on these assets @ 10% including the purchases during the year.
Subscriptions in arrears in the beginning of the year amounted to ₹ 3,500 and at the end of the year ₹ 5,500 were outstanding.
​The Club paid three months rent in advance both in the beginning and at the end of the year.

Answer 1

HEYA MATE YOUR ANSWER IS

due both in the beginning of the year and at the end of the year.

Prepare Income and Expenditure Account of the club for the year ended 31st March

PLEASE MARK AS BRAINLIEST ❤️❤️

Answer 2

Calculation of Accrued Interest:

Interest on fixed deposit= investment x rate on Interest x period

                                        = 1,20000 x 8% x 6/12

                                        = Rs 4800

Interest accrued = Rs 4800- Rs 2400 ( Interest received)

                           = Rs 2400