Question

Q. 37. From the following Receipts and Payments A/c of Dramatic & Sports ClubAmbala, prepare an Income and Expenditure A/c for the year ended 31st March, 2020and a Balance Sheet as at that date :₹ReceiptsCash in hand (1-4-2019)Subscriptions :for 2018-19for 2019-20for 2020-21Prize FundCharity FundProceeds of Drama tickets3,00056,2002,000F ₹Payments3,400 Bank Overdraft (1-4-2019)SalariesDrama ExpensesSports Materials61,200 Prizes Distributed7,000 Charity Given5,000 Municipal Taxes16,000 Upkeep of land8,80013,1006,00018,0005,6003,5001,6003,000​

Answer 1

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