Other information is available as follows:

 i) Annual subscription in arrears is Rs.200

 ii) Wages outstanding Rs.60

iii) Rs.120 is to be written off as depreciation on furniture.

Transcribed Image Text:

The following is the receipt and payment account of Lahore Club for the year ended 31st december 2018. Prepare Income and expenditure account. Payments Receipts Balance b/d Subscription Membership fee Donation Interest Sale of newspaper Rs. 2800 4815 1251 1120 90 250 10,326 ‒‒‒‒‒‒‒‒‒ Newspaper Repairs Furniture Postage & telegram Printing Expenses Wages Balance c/d Rs. 330 100 5,400 170 720 180 3,426 10,326 ‒‒‒‒‒‒‒‒‒‒ The following is the receipt and payment account of Lahore Club for the year ended 31st december 2018. Prepare Income and expenditure account. Payments Receipts Balance b/d Subscription Membership fee Donation Interest Sale of newspaper Rs. 2800 4815 1251 1120 90 250 10,326 ‒‒‒‒‒‒‒‒‒ Newspaper Repairs Furniture Postage & telegram Printing Expenses Wages Balance c/d Rs. 330 100 5,400 170 720 180 3,426 10,326 ‒‒‒‒‒‒‒‒‒‒

Answer rating: 100% (QA)

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 ST DEC 2018 RECEIPTS A... View the full answer