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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.
Receipts
Payments
To Balance b/d Cash
To Subscription: 2016-17
2017-18
2018-19
1,500
60,000
1,800
32,500
63,300
By Salaries By Postage By Rent
By Printing and Stationery
By Sports Material
31,500
1,250
9,000
14,000
11,500
To Donations BilliardsTable
90,000
Bu Miscellaneous Expenses
3,100
To Entrance Fees
To Sale of Old Magazines
1,100
450
By Furniture 1stOctober, 2017
By 10% Investment 1stOctober, 2017 By Balance c/d 31stMarch, 2018
20,000
70,000
27,000
1,87,350
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.
By: NIHARIKA WALIA ProfileResourcesReport error
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