Question

Players' Sports & Social Club prepared following Receipts and Payments Account for the year ended 31st march,2019:
RECEIPTS AND PAYMENT ACCOUNT
for the year ended 31st march,2019
Dr. Cr.
Receipts Rs. Payments Rs.
__________________________________________________________________
To Balance b/d: By salaries 84,500
cash in hand 20,000 By printing 20,700
cash at bank 31,920 By repairs to sports
To subscriptions: equipments 8,000
2017-18 6,200 By competition prizes 22,000
2018-19 1,40,800 By Cultural Evening exps. 20,600
To competition fees 25,900 By purchase of new Van
To proceeds from Sale of van (1st April,2018) 63,000
(1st April,2018) 10,000 By Van expenses 12,000
To Sales of Tickets for Cultural By Sundry expenses 11,800
evening 17,780 By Balance c/d:
cash in hand 2,000
cash at bank 8,000
2,52,600 2,52,600
__________________________________________________________________

ADDITIONAL INFORMATION:

( 1 ) The assets and liabilities at the start and the end of 2018-19 were:
__________________________________________________________________
DATE | BOOK VALUE OF | SPORTS EQUIPMENTS| SUBSCRIPTION IN
| COMPUTER | (written down value) | ARREAR
|(Cost of Rs.20,000)| |
__________________________________________________________________
1st April,2018 | 16,000| 62,000 | 14,000
31st march,2019 | 14,000| 54,000 | 16,200
__________________________________________________________________

( 2 )The Van sold during the year was purchased for Rs.40,000 on 1st April,2016.It
had been depreciated @25% p.a. on the Written Down Value Method for two
years up to the date of sale.
( 3)Capital Fund as on 1st April,2018: Rs.1,66,820.
Prepare---
( a )an Income and Expenditure Account for the year ended 31st march,2019.
( b )a balance sheet as at 31st march,2019.

Answer 1

Answer:

I don't really know but its b I guess