With the help of the Balance Sheet and Receipts and Payments Accounts of Adarsh Cultural Club, Mumbai, prepare Income and Expenditure Account for the year ended31" March, 2013 and the Balance Sheet as on that date:Balance Sheet as on 1/4/2012Liabilities* Assets3Capital fund2,57,000 Buildings2,50,000Building fund50,000 Furniture20,000Outstanding salary1,300 Outstanding Subscription1,000Cash in hand2,400Cash at bank34,9003,08,3003,08,300Receipts and Payments Account for the year ended 31/3/2013ReceiptsPaymentsTo Balance b/dBy Salaries (includes of 35,300Cash in hand2,400 previous year)Cash at bank34,900 By Furniture (PurchasedTo Subscriptionson 01/10/2012)10,0002011-121,000By General expenses8,4002012-1348,000By Printing & Stationery 4,2002013-142,000 51,000 By Drama expenses 16,000To Donations for building fund 20,000 By Balance cldTo Drama receipts28,000 Cash in hand4,600Cash at bank57,8001,36,3001,36,3002You are also required to consider the additional information given below:1) The club had 100 members, each paying 500 as annual subscription.2) Furniture to be depreciated at 20% p.a.3) Salaries outstanding for the year 2012-13 were * 700.

With the help of the Balance Sheet and Receipts and Payments Accounts

1.	With the help of the Balance Sheet and Receipts and Payments Accounts of Adarsh Cultural Club, Mumbai, prepare Income and Expenditure Account for the year ended31" March, 2013 and the Balance Sheet as on that date:Balance Sheet as on 1/4/2012Liabilities* Assets3Capital fund2,57,000 Buildings2,50,000Building fund50,000 Furniture20,000Outstanding salary1,300 Outstanding Subscription1,000Cash in hand2,400Cash at bank34,9003,08,3003,08,300Receipts and Payments Account for the year ended 31/3/2013ReceiptsPaymentsTo Balance b/dBy Salaries (includes of 35,300Cash in hand2,400 previous year)Cash at bank34,900 By Furniture (PurchasedTo Subscriptionson 01/10/2012)10,0002011-121,000By General expenses8,4002012-1348,000By Printing & Stationery 4,2002013-142,000 51,000 By Drama expenses 16,000To Donations for building fund 20,000 By Balance cldTo Drama receipts28,000 Cash in hand4,600Cash at bank57,8001,36,3001,36,3002You are also required to consider the additional information given below:1) The club had 100 members, each paying 500 as annual subscription.2) Furniture to be depreciated at 20% p.a.3) Salaries outstanding for the year 2012-13 were * 700.
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