PROBLEMS FOR PRACTICE Cr. g. 1. Following is the Receipts and Payments Account of Pavan Cricket Club, Patan : Receipts and Payments Account for the year ended 31st March, 2019 Dr. Amount Receipts 1.300 645 234 350 120 To Balance b/d Cash at Bank To Subscriptions 2017-18 2018-19 2019-20 To Donations To Entertainment Receipts To Interest Amount Payments (२) By Salaries 1,040 By Entertainment Expenses By Electricity Charges 85 By General Expenses 4.000 By Rent and Taxes 103 By Investments 1,200 By Printing and Stationery 876 By Expenses of 2017-18 81 By Fixed Deposit 1,000 By Balance c/d Cash at Bank 8,385 3,000 241 600 1,000 To Entrance Fees 895 8,385 0 100 Adjustments : (1) Club had 450 members paying an annual subscription of 10 each. (2) ? 20 is still in arrears towards subscription for the year 2017-18. ols (3) Carry forward 20 for rent paid in advance. (4) Outstanding salary * 200. (5) Land and building # 15,000 and Furniture * 1,150 is standing in the books on 1st April, 2018 on which depreciation at 5% and 20% is to be written off respectively. (6) Capital fund on 1-4-2018 was * 16,695. (7) 50% of the entrance fees and full donation are to be capitalised. From the above Receipts and Payments A/c and adjustments, you are required to prepare : (1) Income and Expenditure A/c for the year ended 31st March, 2019 and (2) Balance Sheet as on that date.
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Given: Receipts and Payments Account of Pavan Cricket Club for the year ended 31st March, 2019 is given.
To Prepare Income and expenditure Account and Balance Sheet as on 31st march, 2019.
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