1.

From the following Receipts and Payments Account and additional information given below, prepare Income and Expenditure Account and Balance Sheet of Rural Literacy Society as on 31st March, 2018: Additional information: (i) Subscription outstanding as on 31st March, 2017 ₹ 20,000 and on 31st March, 2018 ₹ 15,000. (ii) On 31st March, 2018, salary outstanding ₹ 6,000 and one month rent paid in advance. (iii) On 1st April, 2017, society owned furniture ₹ 1,20,000 and books ₹ 50,000.

Answer»

TE YOUR ANSWER IS1) SUBSCRIPTION outstanding as on 31st March, 2017 ₹ 20,000 and on 31st March, 20182). Subscription outstanding as on 31st March, 2017 ₹ 20,000 and on 31st March, 20183) APRIL, 2017, SOCIETY owned furniture ₹ 1,20,000 and books ₹ 50,000.HOPE THIS HELPS ❤️



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