the following is the receipts and payments account of a club for the year ended mar 620280
The following is the Receipts and Payments Account of a club for the year ended Mar 31, 2009.
|
Dr. Cr. |
|||
|
Receipts |
Rs |
Payments |
Rs |
|
Cash in Hand 300 |
Honorarium to Secretary and Treasurer |
9,600 |
|
|
Balance as per |
Rents and Taxes |
2,520 |
|
|
Bank Pass Book 16,460 |
16,760 |
Printing and Stationery |
940 |
|
Subscriptions Receipts from Fees |
21,420 |
Other NAiscella neous Expenses Ground Man”s Wages |
3,060 |
|
Nei Proceeds from Variety |
8,540 |
Expenditure on Fees |
4,780 |
|
Entertainment |
Payments for Bar Purchases |
11,540 |
|
|
Bank Interest Bar Takings |
460 |
Repairs |
640 |
|
Cash Overspent |
40 |
Rs 6,000) |
|
|
Balance as per Pass Book |
6,960 |
||
|
66,920 |
66,920 |
Additional Information
|
Apr 1, 2009 |
Mar 31, 2009 |
|
|
Subscriptions Due |
2,400 |
1,960 |
|
Unperfected Cheque being payment on printing |
180 |
60 |
|
Club Premises at cost |
58,000 |
— |
|
Depreciation on Club Premises |
37,600 |
— |
|
Two Wheeler at cost |
24,380 |
— |
|
Depreciation on Two Wheeler |
20,580 |
— |
|
Value of Bar Stock |
1,420 |
1,740 |
|
Amount due for Bar Purchases |
1,180 |
860 |
Cost overspent represents amount of honorarium to the treasurer not drawn due to shortage of funds. But the total salary payable to him for the year was already included in Rs 9,600.
Depreciation is to be provided @ 5% p.a. on the written down value of the premises and @ 15% p.a. on two wheeler for the whole year.
You are required to adjust Bank Balance according to Cash Book and prepare an Income and Expenditure Account for the year ended Mar 31, 2009 and the Balance Sheet on that date.