From the following Receipt and Payment Account prepare final accounts of a Unity Club for the...
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From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017. Receipts Balance b/d 2016-17 2017-18 Sale of old newspapers Sale of Old furniture 4,000 (costing Rs 6,000) Subscriptions: 2015-16 18,000 60,000 12,000 90,000 10,800 Profit from entertainment Receipt and Payment Accounts for the year ending March 31, 2017 Rent Amount Rs 15,000 44,000 84,000 2,47,800 Payments Furniture Library books Salaries General expenses Electric charges Newspapers Postage Stationary Audit fee Balance c/d Amount Rs 18,000 10,000 72,000 18,000 12,000 33,800 3,000 40,000 8,000 33,000 2,47,800 Liabilities Outstanding Salary Capital Fund Additional Information: Amount Assets Rs 6,000 Cash 6,94,000 Outstanding subscription Library Books Furniture Land and Building 7,00,000 Amount Rs 15,000 18,000 30,000 37,000 6,00,000 7,00,000 1. The Club had 500 members each paying an annual subscription of Rs 150. 2. On 31.3.2016 salaries outstanding amounted to Rs 1,200 and salaries paid included Rs 6,000 for the year 2015-16. 3. Provide 5% depreciation on Land and Building. From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017. Receipts Balance b/d 2016-17 2017-18 Sale of old newspapers Sale of Old furniture 4,000 (costing Rs 6,000) Subscriptions: 2015-16 18,000 60,000 12,000 90,000 10,800 Profit from entertainment Receipt and Payment Accounts for the year ending March 31, 2017 Rent Amount Rs 15,000 44,000 84,000 2,47,800 Payments Furniture Library books Salaries General expenses Electric charges Newspapers Postage Stationary Audit fee Balance c/d Amount Rs 18,000 10,000 72,000 18,000 12,000 33,800 3,000 40,000 8,000 33,000 2,47,800 Liabilities Outstanding Salary Capital Fund Additional Information: Amount Assets Rs 6,000 Cash 6,94,000 Outstanding subscription Library Books Furniture Land and Building 7,00,000 Amount Rs 15,000 18,000 30,000 37,000 6,00,000 7,00,000 1. The Club had 500 members each paying an annual subscription of Rs 150. 2. On 31.3.2016 salaries outstanding amounted to Rs 1,200 and salaries paid included Rs 6,000 for the year 2015-16. 3. Provide 5% depreciation on Land and Building.
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Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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