Prepare Income and Expenditure Account from the following particulars of Youth Club for the year ended on 31st March, 2018:

RECEIPTS AND PAYMENTS ACCOUNT

for the year  ended 31st  March, 2018

Dr.                                                                                                                             Cr.

Additional Information:

i

Subscription outstanding as at 31st March, 2018 16,200.

ii

1,200 is still in arrears for the year 2016-17 for subscription.

iii

Value of sports material at the beginning and at the end of the year was 3,000 and 4,500 respectively.

iv

Depreciation to be provided @ 10% p.a. on furniture.