Question

Prepare Receipts and Payments Account from the information given below:
Cash in hand on 1.1.2013 36,000
Cash at bank on 1.1.2013 10,000
Subscription 6,000
Entrance Fees 1,000
Wages paid to labourers 800
Salaries paid to clerks 3,000
Electricity 1,500
Conveyance 600
Honorarium to Secretary 1,200
Printing and Stationery 500
Fixed Deposit made with bank 10,000
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Answer 1

Answer:

In receipt 53,000 , $ payment 16100. In which side amt is more that will write

Explanation:

Receipt:

cash 36,000

Bank 10,000

subscription 6,000

Entrance fees 1,000

Payment :

wages 800

salaries 3,000

conveyance 600

Honorarium 1,200

printing $ stationary 500

fixed deposit 10,000