Question

From the following receipt and payment account of Chris fitness and Wellness club for the
ended 31st March 2020. prepare income and expenditure account.
Receipts & Payments A/C
Amount
Receipts
Amount
To Balance bld
To Subscriptions
To Entrance fees
To life membership fees
To donation for tournament fund
To sale of old medicine equipment
(book value 15.000)
To miscellaneous receipt
85000
08500
25000
30000
20000
Payments
By doctor and coaches honorarium
By Medicines
By media equipment
By general expenses
By furniture
By newspaper
By rent, rate and Texas
By tournament expenses
By balance C/D
25000
15500
30000
8000
20000
8000
5000
60000
77000
5000
15000
2.48,500
2,48,500
following opening balances appeared in the books on 1st April 2019:
tournament fund rupees 15000
(b) medical equipment rupees 150000
Outstanding subscription was rupees 8000 and advance subscription rupees 5000 for 2019-20
During the year 2019-20 depreciation on medical equipment was rupees 25000
There were 600 members each paying an annual subscription of rupees 100.
(6)​

Answer 1

Answer:

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