Question

Q.19. From the following Receipts and payments account of Strong Star Club for the year ending 31"
March, 2019 and additional information, prepare an Income and expenditure account for the year ending
31" March 2019:
(6)
Receipts and Payments account of Strong Star Club
For the year ending 31" March 2019
Receipts
Amount(Rs.) Payments
Amount(Rs.)
To Balance B/d
2,000
By Salaries
42,500
To Subscription:
By Printing and Stationery 21,500
2017-18
1,200
By Furniture (1.10.2018) 15,000
2018-19
49,200
By 9% Investments
3,000
2019-20
2.300 52,700
By Balance c/d
16,850
To Sale of Old furniture
500
(Book value Rs.800)
To Donation for Prizes
43.000
To Interest on Investment
650
98,850
98,850
Additional Information:
(i) The club has 400 members, each paying an annual subscription of Rs.150.
Salaries paid included Rs.3.150 for the year 2017-18 and outstanding salaries for the 2018-19
were Rs.4,250
(iii) 9% Investments were made on 30th November 2018. The club had a similar Investment of
Rs.8,000 at the beginning of the year.
(iv) Depreciate furniture @ 10% p.a. No depreciation is charged on furniture sold,​

Answer 1

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