1.

Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2018: Additional information: (a) Outstanding Subscriptions for the year ended 31st March, 2018 – ​₹ 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.

Answer»

ting the Surplus:Surplus= Total Income- Total EXPENDITURE           = 5,35,000-4,41,000           =94,000Explanation:DEPRECIATION= 3,40,000×25%                    =85,000



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