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From the following Receipts and Payments Account of Golden Cricket Club, New Delhi, prepare the Income and Expenditure Account for the year ended March 31, 2017: ReceiptsRs PaymentsRs Cash in hand as onPrinting and Stationery38,750 April 1, 201620,000 Lighting26,250Cash at Bank as onRates and Taxes17,000 April 1, 201635,000Telephone charges2,600SubscriptionsPostage and Courier2,000 2015−16 30,000Wages and Salaries88,000 2016−17 2,25,000Insurance Premium15,000 2017−18 10,000––––––––2,65,000Purchase of Funiture2,00,000 Donation for building60,000Cash in hand as on Entrance fees23,000 March 31, 201723,400 Life membership fee20,000Cash at Bank as on Interest18,000 March 31, 201770,000 Locker's rent42,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,83,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,83,000–––––––––– |
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Answer» From the following Receipts and Payments Account of Golden Cricket Club, New Delhi, prepare the Income and Expenditure Account for the year ended March 31, 2017: ReceiptsRs PaymentsRs Cash in hand as onPrinting and Stationery38,750 April 1, 201620,000 Lighting26,250Cash at Bank as onRates and Taxes17,000 April 1, 201635,000Telephone charges2,600SubscriptionsPostage and Courier2,000 2015−16 30,000Wages and Salaries88,000 2016−17 2,25,000Insurance Premium15,000 2017−18 10,000––––––––2,65,000Purchase of Funiture2,00,000 Donation for building60,000Cash in hand as on Entrance fees23,000 March 31, 201723,400 Life membership fee20,000Cash at Bank as on Interest18,000 March 31, 201770,000 Locker's rent42,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,83,000––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯4,83,000–––––––––– |
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