Question

Q.5) Following the cash/banks Alc for the year ended 31 sl march 2006of Amitabh's library Mumbai. (12 mk) Dr. Receipt & payment A/c 1.4.2005 to 31.3.2006 Cr. Receipt Rs. payment Rs. To balance b/d 4,500 By salaries & wages 6,800 To admission fees 3,500 By rent 8,250 To subscriptions 19,500 By investment 3,500 To hall hire charges 2,500 by stationery 1,250 To Misc. Receipts 350 By electricity charges 730 To Int. on investments 600 By books 6,000 By Office expenses 700 By balance Cld 3,720 30,950 30,950 Additional information: 1. on 1.4.2005 the library had following assets also: - Furniture - 5,500; books-45,000 & investments-20,000. 2. Subscription received in advance during the year – Rs.600. 3. Outstanding expenses for the year: 3 (a) Salaries & wages Rs.1, 200 (b) Rent Rs.750 4. 60% of admission fees should be capitalized. 5. Depreciate - furniture @ 5% & library books @ 10%. 6. Books are purchased on 15 Oct, 2005 for Rs.6, 000. Prepare income & and expenditure A/c for the year ended 31.3.2006 & balance sheet as on that date.​

Answer 1

Answer:

yes

Explanation:

happy new year very good morning ok happy