ChinaPayable there onLoanReceipts and Payments Account(for the year ended 31st March, 2019)AmountPaymentsnetAmount7To Balance bdTo Tuition FeesTo FinesTo Interest onPrepare Income & Expenditure Account for the year ended 31st March, 2018 and BalancePrepare an Income and Expenditure Account for the year ended on 31st March, 2019 andAns. Deficit 26,963, B/S Total * 83,850, Capital Fund (31.3.2017) * 92,500)sheet of that Dateche Balance Sheet as on that date of Modern College from the following:To Grant from State GovernmentTo Rent from Use of HallThe college had the following assets as on 31st March, 2019:Furniture * 35,000, Land & Buildings * 1,60,000; Library Books * 24,000; Investments* 10,000and Outstanding Tuition Fee * 2,200.Provide for depreciation on the closing balances of the following assets :Land and Buildings @ 5%, Furniture @ 15% and Library Books @ 20%.ReceiptsSecuritiesore Equipment is capital expenditure,20,000 By Pay & Allowances59,000 By P/F Contribution1,000 By Printing & Stationery30,000 By Books for Library300 By Postage & Telegrams1,000 By Newspapers etc.By Science EquipmentsBy Laboratory ExpensesBy Construction of New BuildingBy Repairs and MaintenanceBy Audit FeesBy General ChargesBy Balance c/a1,11,30070,5005,5407004,6005003004805004,70060030058022,0001,11,300Continue​