Q 37. Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2019:

RECEIPTS AND PAYMENTS ACCOUNT

for the year ended 31st March, 2019

Dr.                                                                                                                Cr.

Additional information :

a

Outstanding Subscriptions for the year ended 31st March, 2019 – 55,000.

b

Outstanding Salaries and Wages – 40,000.

c

Depreciate Sports Equipments by 25%.

Prepare Income and Expenditure Account of the Club from the above particulars.