Question

U were 23
Sto on
19. Following is the Receipts and Pavy
Cr.
on 1st April
uting more
shi and de
13,000
20 and Go
lowing is the Receipts and Payments A/c of Clara Club for the year ended 31" March 2019.
Receipts and Payments Alc
for the year ended 31st March 2019
Dr.
Receipts
Payments
4,500 By Bank Overdraft
By Investment
9,800
By Furniture
68,200
By Salaries
5,200
83,200 By Printing and Stationery
7,800 By Miscellaneous Expenses
1,500 By Interest on Bank Overdraft
1,800 By Cash in Hand
By Cash at Bank
is do not
ne.
To Cash in Hand
To Subscription:
2017-18
2018-19
2019-20
To Income from Entertainment
To Entrance Fee
To Interest on Investment
* 10,000
5,500
46,800
7,000
4,000
500
1,800
1,2019,1
to provid
ed²2
and Jay
10,200
98,800
98,800
balta
Additional information:
The club has 540 members, each paying an annual subscription of 140. Last year, 20 members
paid subscription for the current year in advance and 12,000 was outstanding as on 1st April
2018.
:) Stock of stationery as at 31st March 2018 and 31st March 2019 were * 2,300 and 1,800 respectively.
... The club owned a building of * 87,500 and furniture of 12,000 in the beginning of the year.
Depreciation on Building is to be provided @ 5% and on furniture @ 10% (excluding purchases).
(iv) Salary of * 5,000 was outstanding as on 1st April 2018.
Prepare Income and Expenditure A/c for the year ending 31 March 2019 and Balance Sheet as on that
date.​

Answer 1

Explanation:

Only income and expenditure account is asked to make