Question

From the following information of UV Can Club, prepare an Income & Expenditure A/c for the year ended 31.03.2020

                                           

Salaries paid                                    90,000

Lighting Expenses                                      7,500

Printing & Stationery (including 1,000 for 18-19)                  9,000

Subscriptions Received (incl. 3,500 advance for 20-21 and 6,000

For 18-19)                        85,000

Net Proceeds of Canteen                                 58,000

Miscellaneous Expenses                                22,000

Interest paid on Loan (for 3 months)                        1,200

Rent & Rates (including 1,500 unexpired)                    9,300

Locker rent Received                                  7,600

Additional Information:   Subscriptions in arrears on 31.03.2020 were 12,000 and Interest on Loan for nine months was also outstanding.               
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Answer 1

Answer:

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