Prepare Income and Expenditure Account from the following Receipts and Payments Account of Delhi Nursing Society for the year ended 31st March, 2018: Donation of ₹10,000 received for Building Fund was wrongly included in the Subscriptions Account. A bill of medicines purchased during the year amounted to ₹12,800 was outstanding. Government Grant is not for a specific purpose.

Prepare Income and Expenditure Account from the following Receipts and

1.	Prepare Income and Expenditure Account from the following Receipts and Payments Account of Delhi Nursing Society for the year ended 31st March, 2018: Donation of ₹10,000 received for Building Fund was wrongly included in the Subscriptions Account. A bill of medicines purchased during the year amounted to ₹12,800 was outstanding. Government Grant is not for a specific purpose.
Answer» tion of Deficit:Deficit= Total expenditure- Total income =2,87,500- 2,32,400 = 55,100Explanation: The WRONGLY debited subscription amount to be deducted from SUBSCRIPTIONS amount. the outstanding EXPENSES have to be added with DRUG and incidental amount.

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