Question

Q. 22. Following is the Receipts and Payments Account of Rajdhani Club for the
year ended 31st March, 2021 :
Receipts
To Balance b/d : (1-4-2020)
Cash in hand
Cash in Deposit Account
Cash in Current Account
To Subscriptions
To Entrance Fees
To Life Membership Fees
To Newspapers (Sales)
To Canteen Collections
To Interest on Deposits
Payments
By Staff Salary
4,000 By Canteen Expenses
16,000 By Misc. Expenses
5,200 By Insurance
80,000 By Telephone Expenses
12,000 By Furniture Purchased
15.000 By Investments Purchased
200 By Balance c/d (31-3-2021):
4,400 Cash in hand
1,600 Cash in Deposit Account
Cash in Current Account
1,38,400
35.400
3,500
800
2,000
4,800
15.000
46,000
6,700
20,000
4,200
1,38,400
Additional Information :-
31-3-2020
31-3-2021
₹
₹
(1) Outstanding Subscriptions
7,000
5.600
(11) Subscriptions Received in advance
2,000
2,500
(iil) Salaries Outstanding
1,200
1,800
(iv) Furniture
10,000
(v) Sports Equipment
20,000
Depreciate furniture by 20% and Sports Equipment by 30%.
You are required to prepare an Income and Expenditure Account for the year
ended 31st March, 2021 and a Balance Sheet as at that date.
[Ans. Opening Capital Fund 359,000; Surplus 38,200; Balance Sheet Total
31,16,500.]​

Answer 1

Answer:

(i) 45631

(ii) 45390

(iii) 00.87

(iv) 3210.0

(v) 2952

Explanation:

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