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Answer:
INCOME & EXPANDITURE A/C
EXP. AMOUNT INCOME AMOUNT
To exp. By subscription 16-17 4200
16-17 3600 + advance in PY 1200
+ out. 1000 4600 + out of CY 1200 5600
To interest 800 By entrance fees 800
+ out. 400 1200 By income from refer. 8000
To refershment. By rent 1400
exp. 4000 - out of PY (840) 560
To dep. on buil- By Deficit 840
ding 6000
15800 15800
BALANCE SHEET AS ON 31.3.2017
LIABILITIES AMOUNT ASSETS AMOUNT
Capital fund 64000 Building 60000
+ income & exp 3240 - Dep (6000) 54000
+Entrance fees 800 Out sub. 200
- Deficit ( 840) 67200 Leasehold land 8000
Sub. in advance 300 cash at bank 16700
Out. expanses 1000
Out interest 400
Loan 10000
78900 78900
here PY means previous year
and CY means current year