Question

Q12) From the following receipts and payments account for the year ended 31" December 2016 and
additional information given, prepare the income and expenditure account of Bharath Sports Club for
the year ended 31s December 2016.
Amount
7890
Payments
Salary
Amount
16500
Receipts
To Balance b/d
Cash-
890
Bank -
7000
To Subscription
To Life Membership Fee
22200
32200
Billiards Table
By Office Expenses
17500
4100
20,000
1500
2500
By Stationery
By Tournament Expenses
By Furniture Purchased
2300
20500
7700
To Tournament Fund
To Lockers Rent
To Sale Of Old Sports Material
(Costing Rs 2200)
To Interest on Fixed Deposit
To Legacy
500
9000
12000
30000
By Sports Equipment Purchased
By Fixed Deposit (on 1" oct 2016 @
10% per annum)
By Balance cld
Cash In Hand-690
Cash at Bank- 22000
Entrance Fees
9000
22690
133290
133290
Additional information subscription out standing on 15 January 2016 were 1500 and 31" December
2016 were Rs. 2000/-. On 15 January 2016 the club had building 40000, furniture 15000, sports
equipment 16000. Charge depreciation on these items at the rate 10% including purchase during the
year.(6M)​

Answer 1

Answer:

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