Question

Q. 56. Prepare Income & Expenditure Account for the year ended March 31, 2019
and a Balance Sheet as at that date from the following information.
RECEIPT AND PAYMENT ACCOUNT
for the year ending March 31, 2019
Receipts
Amount
Payments
Amount
4,800
83,200
Balance b/d
41,000 Salaries and Wages :
Subscriptions :
2017-18
2017-18
7,200
2018-19
2018-19
3,37,600
Sundry expenses
2019-20
12,000 3,56,800 Freehold land
Entrance fees
16,000 Stationery
Locker rent
58,000 Rates
Revenue from refreshment
48,000 Refreshment expenses
Income from investments
10,000 Telephone charges
Govt. Grant
40,000 Investments
Fess from Non-members
6,000 Audit fee
Balance c/d
88,000
37,000
60,000
16,000
24,000
37,500
4,000
2,50,000
6,000
53,300
5,75,800
5,75,800

Answer 1

Answer:

53,300

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