Question

From the information given below, draft receipts and Payments Account of Friends club, Delhi, for the year ended March 31, 2013:
Cash on April 1, 2012 Rs 3,600, Subscriptions Rs 37,600, donations Rs 8000, Entrance Fees Rs 4,300, Rent Realized from club Hall Rs 5,250, Electric charges Rs 3,440, Taxes Rs 500, Salaries and wages Rs 21,500, Honorarium to secretary Rs 2,500, Interest Received on Investments Rs 2,950, Printing and Stationery Rs 350, Pretty cash Payments Rs 100, Insurance Premium Paid Rs 310.

Answer 1

Friends Club, Delhi

RECEIPTS AND PAYMEBTS ACCOUNT

$\begin{array}{cccccccc}\text{Dr}& & & & \text{For the year ended March 31, 2013}& & & \text{Cr}\end{array}\begin{array}{cccc}\text{Receipts}& \text{Amount}& \text{Payments}& \text{Amount}\\ \text{To Balance on April 1, 2012}& \text{3,600}& \text{By Electric charges}& \text{3,440}\\ \text{To Subscriptions}& \text{37,600}& \text{By Taxes}& \text{500}\\ \text{To donations}& \text{8,000}& \text{By Salaries and Wages}& \text{21,500}\\ \text{To Entrance Fees}& \text{4,300}& \text{By Honorarium to Secretary}& \text{2,500}\\ \text{To Rent}& \text{5,250}& \text{By Printing and Stationary}& \text{350}\\ \text{To Interest on Investments}& \text{2,950}& \text{By Pretty cash payments}& \text{100}\\ & & \text{By Insurance Premium}& \text{310}\\ & & \text{By Balance on March 31, 2013}& \\ & & \text{cash in hand}& \text{33,000}\\ & \underset{–}{\overline{\underset{–}{61,700}}}& & \underset{–}{\overline{\underset{–}{61,700}}}\end{array}$