Question

From the following Receipts and Payments Account and additional information of Modern
Health Club, prepare Income and Expenditure Account for the year ended 31st March, 2019
and the Balance Sheet as at 31st March, 2019:
RECEIPTS AND PAYMENTS ACCOUNT
for the year ended 31st March, 2019
Dr.
Cr.
Receipts
₹
Payments
₹
To Balance bld
To Subscriptions
To Donations
To Furniture (Book Value 6,000)
To Life Membership Fees
To Interest on Investment (@ 5% for full year)
17,000
60,000
2,000
5,000
7,000
9,000
1,00,000
By Salaries
By Rent
By Repairs
By Books
By Building
By Balance cld
30,000
18,300
4,700
16,000
30,000
1,000
1,00,000
600
Additional Information:
Particulars
31st March, 2018 (*)
31st March, 2019 (3)
MI
4,000
5,000
0) Subscription received in advance
(i) Outstanding Subscription
(iii) Books
4,000
3,000
12,500
26,500
(CBSE 2019 )​

Answer 1

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