Question

tions in Arrear on 31st March, 2016
Subscriptions for the year (720 x 100)
Less: Subscriptions received for the year
Subscriptions in Arrear on 31st March, 2016
7200
Illustration 29. Prepare the Income and Expenditure Account from the following details of a
tennis club for the year ended 31st March, 2016 and the Balance Sheet as at that date.
RECEIPTS AND PAYMENTS ACCOUNT CAN EXTRACT)
for the year ended 31st March, 2016
Receipts
3 Payments
Subscriptions-Arrears
700 Caterers-Old Dues
3.500
Subscriptions Current
11,000 Caterers Current
9200
Locker Rent
2,500 Band Fees
1,600
14,500 New Equipment
Sale of Old Balls
1,200 Repairs to Nets
600
1,000 New Balls
5.000
Match Expenses
800
Rates on Club House
2400
Dance Receipts
Donations
Notes:
1. The club has 60 members and the subscription rate is 200 per year,
2. On 31st March, 2016, 500 was owing for tennis balls and the rate paid includes ? 600 relating to the
3. Equipment is depreciated at 10% p.a. on cost including new equipment purchased.
following year​

Answer 1

Answer:

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