Question

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9. 3. Following is the summary of Receipts and Payments of Jay Vyayam Shala, for the year ending
on 31-03-2019.
Receipts and Payments Account for the year ended 31st March, 2019
Dr.
Cr.
Amount
Receipts
Payments
Amount
To Balance b/d
To Subscriptions
2017 - 18
2018 - 19
To Donation for Building
To Receipts from Entertainment
41.600 By Salary
By Lighting
4.120 By General Expenses
1,60,000 By Entertainment Expenses
50.000 By Taxes Pald
36,440 By Printing and Stationery
3.240 By Expenses Pald of 2017-18
45.000 By Investment
By Fixed Deposit with Bank
By Balance c/d
3.40,400
55.000
10,000
15.360
25.800
5,000
9.440
24.000
1.20.000
40,000
35,800
To Interest
To Entrance Fees
3.40.400
Adjustments :
4) Jay Vyayam Shala has 4500 members paying annual subscription of 40 each.
2) Provide for outstanding salary 5,000.
1370n 1 - 4 - 2018 the assets stood as under : (a) Land and Building : 60,000 (b) Furniture : * 46,000.
Depreciate the above assets at 10% p.a.
LA1nterest on Investment * 2.000 is not received.
(5) Capital fund was * 1,27,720 on 1 - 4 - 2018.
(6) 50 % of the Entrance fees is to be capitalised.
Prepare : Income and Expenditure Account for the year ended 31st March, 2019 and Balance Sheet
as on that date.
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Answer 1

Answer:

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