From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year e...........

From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017. (5 marks)

Receipt and Payment Accounts for the year ending March 31, 2017
Receipts		Amount Rs	Payments	Amount Rs
Balance b/d		15,000	Furniture	18,000
Sale of Old furniture (costing Rs 6,000)		4,000	Library books	10,000
Subscriptions:			Salaries	72,000
2015–16	18,000		General expenses	18,000
2016–17	60,000		Electric charges	12,000
2017–18	12,000	90,000	Newspapers	33,800
Sale of old newspapers		10,800	Postage	3,000
Profit from entertainment		44,000	Stationery	40,000
Rent		84,000	Audit fee	8,000
			Balance c/d	33,000
		2,47,800		2,47,800

Additional Information:

1.	The Club had 500 members each paying an annual subscription of Rs 150.
2.	On 31.3.2016 salaries outstanding amounted to Rs 1,200 and salaries paid included Rs 6,000 for the year 2015–16.
3.	Provide 5% depreciation on Land and Building.