pasd-up. Later en fest and final call was made Shahid we had
applied for 2000 shares out of the group applying for 2.900.000 shares failed to pay first and final call and his
shares were also forfeited These shares were afterwards re-issued at Rs 60 per share fully pand-
Q18] The Following is the Receipts and Payments Account of Royal's Club for the year ended 31 March 2018
RECEIPTS
AMOUNT
PAYMENTS
AMOUNT
4.90.000
5.06,000
By Rent
By Sutionery
11.000
45.000
To Bal bid
To
Subscriptions
To Donations
To Admission
Fee
To Prize Fund
80.000
60.000
By Salaries
By Match Expenses
2.72.000
1.40.000
1.20,000
By Help to redy students
97 000
By Telephone Expenses
By Prze Awarded
By Balance c d
1.05.000
5.44.000
12.56.000
The following additional Information is provided
(a) Subscriptions include Rs 22.000 for 2016-17 and Rs 10,000 for 2018-19
(b) Subscriptions outstanding on 31 March 2016 were Rs 30.000
(c) Stock of machinery on 31" Mach 2017 and 2018 was Rs 8.800 was Rs 9400 respectively
(d) Rent for March 2018 is outstanding
You are required to prepare Income and Expenditure Account of the Cub for the Year ended 31 March 2012
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