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1 Salary paid by club for the year ended 31st March
- 2018 amounted to 120,000. How much amounted will be
recorded in Income and expenditure A/C if unpaid salary we
Rs 5ooo and solary baid in advance was 1000 on 31.03.2008
Answers
Explanation:
Income and Expenditure A/c
For the year ending 31.3.2013
Expenditure
Amount
Income
Amount
To Salaries 35300
By Subscriptions (2012-13)48000
50000
Less: last year O/S (1300)
Add: current O/s 2000
Add: current O/S 700
34700
By drama receipts
28000
To depreciation on furniture
6000
To general expenses
8400
To Printing and stationary
4200
To drama expenses
16000
To excess of income over expenditure
8700
78000
78000
Balance Sheet
As on 31.3.2013
Liabilities
Amount
Assets
Amount
Capital fund 257000
265700
Buildings
250000
Add: Surplus 8700
Furniture 20000
Building fund 50000
70000
Add: purchases 10000
Add: donations 20000
Less: depreciation (6000)
24000
O/S salaries
700
Cash in hand
4600
Advance Subscriptions
2000
O/S Subscriptions
2000
Cash at bank
57800
338400
338400