Following is the Receipts and Payments Account of M.B. Club and from t

1.	Following is the Receipts and Payments Account of M.B. Club and from the given information, show how the item will be shown in Income and Expenditure Account and in Balance Sheet. RECEIPTS AND PAYMENTS ACCOUNT Dr. for the year ending 31st March, 2018 Cr. ReceiptsAmount PaymentsAmouont(Rs)(Rs)By Salaries2016−1730,0002017−183,00,0002018−1918,0003,48,000 Additional Information : (i) Salaries outstanding on 31st March, 2017 Rs 35,000. (ii) Salaries for the year to be paid Rs 3,45,000. (iii) Salaries paid in advance on 1-04-2017 Rs 10,000.
Answer» Following is the Receipts and Payments Account of M.B. Club and from the given information, show how the item will be shown in Income and Expenditure Account and in Balance Sheet. RECEIPTS AND PAYMENTS ACCOUNT Dr. for the year ending 31st March, 2018 Cr. $\begin{matrix} Receipts & Amount & Payments & Amouont (Rs) & (Rs) By Salaries 2016 - 17 & 30, 000 2017 - 18 & 3, 00, 000 2018 - 19 & 18, 000 & 3, 48, 000 \end{matrix}$ Additional Information : (i) Salaries outstanding on 31st March, 2017 Rs 35,000. (ii) Salaries for the year to be paid Rs 3,45,000. (iii) Salaries paid in advance on 1-04-2017 Rs 10,000.

Following is the Receipts and Payments Account of M.B. Club and from the given information, show how the item will be shown in Income and Expenditure Account and in Balance Sheet. RECEIPTS AND PAYMENTS ACCOUNT Dr. for the year ending 31st March, 2018 Cr. ReceiptsAmount PaymentsAmouont(Rs)(Rs)By Salaries2016−1730,0002017−183,00,0002018−1918,0003,48,000 Additional Information : (i) Salaries outstanding on 31st March, 2017 Rs 35,000. (ii) Salaries for the year to be paid Rs 3,45,000. (iii) Salaries paid in advance on 1-04-2017 Rs 10,000.

Answer»

Following is the Receipts and Payments Account of M.B. Club and from the given information, show how the item will be shown in Income and Expenditure Account and in Balance Sheet.

RECEIPTS AND PAYMENTS ACCOUNT
Dr. for the year ending 31st March, 2018 Cr.
$\begin{matrix} Receipts & Amount & Payments & Amouont (Rs) & (Rs) By Salaries 2016 - 17 & 30, 000 2017 - 18 & 3, 00, 000 2018 - 19 & 18, 000 & 3, 48, 000 \end{matrix}$

Additional Information :

(i) Salaries outstanding on 31st March, 2017 Rs 35,000.

(ii) Salaries for the year to be paid Rs 3,45,000.

(iii) Salaries paid in advance on 1-04-2017 Rs 10,000.

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