Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account,...
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Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2017: Receipts Balance b/d Subscriptions Receipt and Payment Account For the year ending December 31, 2017 Amount Rs 7,890 52,000 Payments Amount Rs 11,000 Salary Electric charges 5,500 Life member ship fee Entrance fee Tournament fund Locker Rent Sale of old sports goods (Costing Rs 2,200) Sale of Old Newspaper Legacy 2,200 3,200 26,000 1,250 2,500 750 37,500 1,33,290 Billiard Table Office expenses Printing and Stationery Tournament expenses Repair of ground Furniture purchased Sports equipments Cash in Hand Cash at Bank Fixed Deposit (on 1.10.17 for 10% p.a) 17,500 4,100 2,300 18,500 2,000 7,700 12,000 12,690 10,000 30,000 1,33,290 Other Information: Subscription outstanding was on December 31, 2016 Rs 1,200 and Rs 3,200 on December 31, 2017. Locker rent outstanding on December 31, 2017 Rs 250. Salary outstanding on December 31, 2017 Rs 1,000. On January 1, 2017, club has Building Rs 36,000, furniture Rs 12,000, Sports equipments Rs 17,500. Depreciation charged on these items @ 10% (including Purchase). Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2017: Receipts Balance b/d Subscriptions Receipt and Payment Account For the year ending December 31, 2017 Amount Rs 7,890 52,000 Payments Amount Rs 11,000 Salary Electric charges 5,500 Life member ship fee Entrance fee Tournament fund Locker Rent Sale of old sports goods (Costing Rs 2,200) Sale of Old Newspaper Legacy 2,200 3,200 26,000 1,250 2,500 750 37,500 1,33,290 Billiard Table Office expenses Printing and Stationery Tournament expenses Repair of ground Furniture purchased Sports equipments Cash in Hand Cash at Bank Fixed Deposit (on 1.10.17 for 10% p.a) 17,500 4,100 2,300 18,500 2,000 7,700 12,000 12,690 10,000 30,000 1,33,290 Other Information: Subscription outstanding was on December 31, 2016 Rs 1,200 and Rs 3,200 on December 31, 2017. Locker rent outstanding on December 31, 2017 Rs 250. Salary outstanding on December 31, 2017 Rs 1,000. On January 1, 2017, club has Building Rs 36,000, furniture Rs 12,000, Sports equipments Rs 17,500. Depreciation charged on these items @ 10% (including Purchase).
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ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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