The Receipt and Payment Account of Harimohan charitable institution is given nbs...........

The Receipt and Payment Account of Harimohan charitable institution is given: (5 marks)

Receipt and Payment Account for the year ending March 31, 2015
Receipts	Amount Rs	Payments	Amount Rs
Balance b/d:		Furniture	3,000
Cash at Bank	22,000	Investments	55,000
Cash in Hand	8,800	Advance for building	20,000
Donations	32,000	Charities	60,000
Subscriptions	50,200	Salaries	10,400
Endowment Fund	60,000	Rent and Taxes	4,000
Legacies	24,000	Printing	1,000
Interest on Investment	3,800	Postage	300
Interest on Deposits	800	Advertisements	1,100
Sale of old newspapers	500	Insurance	4,800
		Balance c/d:
		Cash at Bank	32,000
		Cash in Hand	10,500
	2,02,100		2,02,100

Prepare the Income and Expenditure Account for the Year ended on March 31, 2015 after considering the following:

(i)	It was decided to treat Fifty per cent of the amount received on account of Legacies and Donations as income.
(ii)	Liabilities to be provided for are:
	Rent Rs 800; Salaries Rs 1,200; advertisement Rs 200.
(iii)	Rs 2,000 due for interest on investment was not actually received.