Q. The following is the Receipts and Payments account of Apollo Hospital for the year ended 31st March, 2012.
Receipts and Payments A/c
ReceiptsAmount(Rs)PaymentsAmount (Rs)To Balance b/d8,500By Pament for Medicines33,000To Subscriptions4,000by Fees to Doctors24,000To Donations15,000By Salaries27,000To Interest on Investments@9%By Equipments Purchased15,000for the year9,000By Charity Show Expenses4,000To Proceeds from Charity Show12,000By Sundry Expenses1,200To Grant-in-Aid20,000By Balance c/d8,300¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,12,500––––––––––
(a)Other Information:1.4.201131.3.2012(b)Subscription received in advance5001,000(c)Stock of Medicines10,00015,000(d)Amount due to Medicine Suppliers8,00012,000(e)Value of Equipments25,00033,000(f)Value of Buildings70,00065,000
You are required to prepare:
(i) Income and Expenditure Account for the year ended 31st March, 2021; and
(ii) Balance Sheet as on that date.