Question

From the following Receipt and Payment Account of Jan Kalyan Club prepare Income and

Expenditure account for the year ending March 31, 2020 and a Balance Sheet as at that

date

Receipt and Payment Account

For the year ending March 31,2020

Receipt

Amount Payment

Amount

Cash in hand

6800

Salaries

22000

Subscoption

60200

Travelling expenses 3000

Donation

3000

Stationery

2300

Sale of furniture (book 4000

Rent

16000

value Rs 6000

Entrance fee

800

Repairs

700

Lite membership fee 7000

Books Purchased 6000

Interest on investment 5000

Building Purchased 30000

@5% for full year

Cash in hand

1800

86800

86800

Additional information:

0 Subscription received included Rs 2000 for 2018-19 and Rs 3200 for 2020-21

() Subscription amounting to Rs.800 is still in arrears for 2018-19 and subscription

of Rs.4000 is in arrears for 2019-20

Three months rent Rs. 4000 was due both in the beginning and end of the year

(iv) One month salary is outstanding at the end of the year

On 1-4-2019 club owned books valued at Rs. 13500 and Fumiture Rs. 16000. On

31.03.2020 books were valued at Rs.16500 and furniture Rs 8000​

Answer 1

Answer:

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