Accountancy, asked by mkaneesh6621, 9 months ago

From the following Receipt and Payment Account of Jan Kalyan Club, prepare Income and Expenditure Account and Balance Sheet for the year ending March 31, 2017. Receipt and Payment Account for the year ending March 31, 2017 Receipts Amount Rs Payments Amount Rs Cash in hand as on 1.4.16 6,800 Salaries 24,000 Subscription 60,200 Traveling Expenses 6,000 Donation 3,000 Stationery 2,300 Sale of furniture (Book value Rs 6000) 4,000 Rent 16,000 Entrance fee 800 Repair 700 Life membership fee 7,000 Books purchased 6,000 Interest on investment (@ 5% for full year) 5,000 Building purchased 30,000 Cash in hand as 31.3.2017 1,800 86,800 86,800 Additional Information: As on 1.04.2016 As on 31.03.2017 (i) Subscription received in advance 1,000 3,200 (ii) Outstanding subscription 2,000 3,700 (iii) Stock of stationery 1,200 800 (iv) Books 13,500 16,500 (v) Furniture 16,000 8,000 (vi) Outstanding rent 1,000 2,000

Answers

Answered by madeducators11
4

In Books of Jan Kalyan Club

Explanation:

Pls refer to the pic below

Attachments:
Answered by lodhiyal16
1

Answer:

Explanation:

                     Income and expenditure account                                                  

   Expenditure                 Amount                     Expenditure          Amount          

Loss on sale of furniture  2000               Subscription          60200

Salaries                               24000             outstanding          2000

Travelling expenses           6000            

Stationery                           2300              outstanding          3700

Add: opening stock           1200            Advance                  1000

Less: closing stock             800

Repairs                                7000      Less:   Advance                      3200

Rent                                    16000      Donation                         3000

Less: Outstanding            1000        entrance fee                     800

Add: outstanding             2000         Interest on investment      5000

Depreciation on books     3000

Depreciation  on furniture  2000

 Surplus                               11000                                                                                                                              

                                       68500                                                     68500            

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