From the following Receipts and Payments Account of a Club and from the additional information supplied, prepare Income and Expenditure Additional Information: (a) The club has, 50 members each paying annual subscription of 25. Subscriptions outstanding on 31st Dec. 2011 were Rs 300. (b) On 31st December 2012 salaries outstanding amounted to f 100. Salaries paid included Rs 100 for the year 2011. (c) On 1-1-2012,the club owned Land and Building valued at Rs 10,000, Furniture Rs 600 and Books Rs 500. ReceiptsAmount (Rs)PaymentsAmount (Rs)To Balance b/d250By Salaries1,200To Subscriptions :By General Charges3002011250By Electric Charges20020121,000By Books1002013200By Newspapers400To Sale of old Furniture (Costing By Postage50Rs 100)60By Furniture250To Rent received for the use of Hall740Balance c/d500To Entertainment400To Sale of Newspaper100¯¯¯¯¯¯¯¯¯¯¯¯¯3,000––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯3,000––––––––––––