the accounts set out below are submitted to you for audit pass comments and prepare 620299
The accounts set out below are submitted to you for audit. Pass comments and prepare corrected and proper final accounts for the year ending Dec 31, 2008.
Income and Expenditure Account as on Dec 31, 2008
|
Receipts |
Rs |
Payments |
Rs |
|
Entrance fees (21p100) |
2,100 |
Salary and Wanes |
6,700 |
|
Fc for I if Membership (50 Ps 520) |
2,600 |
Secondary’s Salary |
1500 |
|
Annual Subscription 15,650. |
16.300 |
Rent. Wages. etc. |
12.650 |
|
Add: Paid in Advance 650 |
700 |
Printing and Postage |
420 |
|
Interest on GP Notes |
Repairs to Premises |
1.240 |
|
|
Sundry Receipts |
600 |
Interest on Bank Loan |
570 |
|
Balance from last year |
12,380 |
Balance c/d |
9400 |
|
34,680 |
34,680 |
Treasurers Note
Subscriptions in arrears amount to Rs 1,200. Sundry traduces bills Rs 420 were outstanding on Dec 31 but have since been paid. The secretary’s salary has not yet been paid. The 3½12; % G.P. notes of the face value of Rs 20,000 were purchased at Rs 960 the lease of the club premises costs Rs 21,240, the balance of the bank loan now outstanding is Rs 10,000, secured by mortgage on the leasehold premises.