21. The following information's were obtained from the books of Delhi club as on 31.3.20X1 at the end ofthe first year of the club. You are required to prepare receipts and payments Account, Income andExpenditure Account for the year ended 31.3.20X1 and a Balance Sheet as at 31.3.20X1 on mercantilebasis:(1) Donations received for Building and Library Room 52,00,000(ii) Other revenue income and actual receipts:Revenue Income/ Actual receipt Entrance fees17000/17000Subscriptions20000/19000Locker rents600/600Sundry Income1600/1060Refreshment account- Nil(iii) Other revenue expenditure and actual payments:Revenue Expenditure/Actual Payments:-Land (cost Rs 10,000) :-nil/10000Furniture (cost Rs 1,46,000) :-nil/130000Salaries:- 5000/4800Maintenance of play grounds:-2000/1000Rent:-8000/8000Refreshment:- nil/8000*Donations to the extent of 25,000 were utilized for the purchase of Library Books, balance was stillunutilized. In order to keep it safe, 9% Govt. Bonds of 1,60,000 were purchased on 31.3.20x1.remaining amount was put in the Bank on 31.3.20X1 under the term deposit. Depreciation at 10% p.a. wasto be provided for the whole year on Furniture and Library Books.*Answer: Surplus 15,100 B/S Total 3,40,440; Bank O/D 1,08,140​