From the following Receipts and Payments Account of Prantik Golf Club for the year ended 31st March 2016, prepare an Income and Expenditure Account for the above putiod.
Receipts
To Balance bid
To
Subcription 2014-15
2015-16 2016-17
To Donation
To Salu of Drama ticket
To Sale of Waste Paper
To Lite Membership Fees
Additional Information:
() Payments
1.500 By Salaries
By Drama Expenses
By Newspapers
By Municipal Tax
By Charity
By Investments By Electric charges
By Purchase of Furnitum
By Balanite od
(7) 10,000
4,000
1.200
600
4,500 8,000
1,600
2,000 5,400
37.300
1.200
16,000 2.800
20,000
5,000 4,500
300
6,000
37.300
O There are 500 members each paying 40 as subscription, 71.600 being subscription outstanding Tor 2014-15 on 31st March, 2016 la Municipal Taxes amounting to 2600 per annum heve been paid up to 30th June 2016.
( 10% interest has accrued on investments for 6 months
w 50% of Life Membership fees is to be capitalised.
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