RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March ,2018
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Dr. |
|
|
Cr. |
||
Receipts |
Amount |
Payments |
Amount |
||
To Balance b/d | 7,000 | By Salaries | 28,000 | ||
To Subscriptions: |
|
|
By General Expenses |
6,000 |
|
2016-17 | 5,000 | By Electricity Charges | 4,000 | ||
2017-18 | 20,000 | By Books | 10,000 | ||
2018-19 | 4,000 |
29,000
|
By Newspapers |
8,000 |
|
To Rent |
14,000
|
By Balance c/d |
4,000 |
||
(Received from the Use of Hall) |
|
||||
To Profit from Entertainment |
8,000
|
||||
To Sale of Old Newspapers |
2,000
|
|
|||
60,000
|
60,000
|
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|
|
In the books of New City Club
Income and Expenditure Account for the year ended March 31, 2018 |
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Dr. |
|
Cr. |
||||
Expenditure |
Amount (Rs) |
Income |
Amount (Rs) |
|||
Salaries |
28,000 |
|
Subscription (50 members × Rs 500 each) |
25,000 |
||
Add: Outstanding for 2017-18 |
2,000 |
|
Rent Received from the use of hall |
14,000 |
||
Less: Outstanding for 2016-17 |
6,000 |
24,000 |
Profit from Entertainment |
8,000 |
||
General Expenses |
6,000 |
Sale of Old Newspapers |
2,000 |
|||
Electricity Charges |
4,000 |
|
|
|||
Newspapers |
8,000 |
|
|
|||
Depreciation on Furniture (2,000 × 10%) |
2,000 |
|
|
|||
Surplus (Balancing Figure) |
5,000 |
|
|
|||
|
49,000 |
|
49,000 |
|||
|
|
|
|
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Balance Sheet as on April 01, 2017 |
|||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
Salaries Outstanding |
6,000 |
Subscriptions Outstanding |
6,000 |
Capital Fund |
2,47,000 |
Building |
2,00,000 |
(Balancing Figure) |
|
Furniture |
20,000 |
|
|
Books |
20,000 |
|
|
Cash and Bank |
7,000 |
|
2,53,000 |
|
2,53,000 |
|
|
|
|
Balance Sheet as on March 31, 2018 |
|||||
Liabilities |
Amount (Rs) |
Assets |
Amount (Rs) |
||
Advance Subscription |
4,000 |
Subscription Outstanding |
|
||
Salaries Outstanding |
2,000 |
For 2015-16 (25,000 - 20,000) |
5,000 |
|
|
Capital Fund |
2,47,000 |
|
For 2014-15 (6,000 - 5,000) |
1,000 |
6,000 |
Add: Surplus |
5,000 |
2,52,000 |
Building |
2,00,000 |
|
|
|
Furniture |
20,000 |
|
|
|
|
Less: 10% Depreciation |
2,000 |
18000 |
|
|
|
Books |
20,000 |
|
|
|
|
Add: Purchases |
10,000 |
30,000 |
|
|
|
Cash and Bank |
4,000 |
||
|
2,58,000 |
|
2,58,000 |
||
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