CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Following is the Receipts and Payments Account of You Bee Forty Club for the year ended 31st March, 2019:
RECEIPTS AND PAYMENTS ACCOUNT
for the year ended 31st March, 2019
Dr. Cr.
Receipts Payments
To Balance b/d (cash) 1,50,000 By Salaries and Wages 1,60,000
To Subscriptions By Office Expenses 35,000
2016-2017 60,000 By Sports Equipments 3,40,000
2018-2019 3,50,000 By Telephone Charges 24,000
To Donations 50,000 By Electricity Charges 32,000
To Entrance Fees 80,000 By Travelling Expenses 65,000
By Balance c/d (Cash) 34,000
6,90,000 6,90,000

Additional information :
(a) Outstanding Subscriptions for the year ended 31st March, 2019 – ₹ 55,000.
(b) Outstanding Salaries and Wages – ₹ 40,000.
(c) Depreciate Sports Equipments by 25%.
Prepare Income and Expenditure Account of the Club from the above particulars.

Open in App
Solution

Books of You Bee Forty Club

Income and Expenditure Account

for the year ended March 31, 2019

Dr.

Cr.

Expenditure

Amount

()

Income

Amount

()

Salaries and Wages

1,60,000

Subscriptions

3,50,000

Add: Outstanding

40,000

2,00,000

Add: Outstanding for 2018-19

55,000

4,05,000

Office Expenses

35,000

Donations

50,000

Telephone Charges

24,000

Entrance Fees

80,000

Electricity Charges

32,000

Travelling Expenses

65,000

Depreciation on Sports Equipments (34,0000 × 25%)

85,000

Surplus (Balancing Figure)

94,000

5,35,000

5,35,000


flag
Suggest Corrections
thumbs-up
9
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Finding Commission
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon