From the following receipts and payments account of Pune Club, prepare income and expenditure account for...

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From the following receipts and payments account of Pune Club, prepare income and expenditure account for the year ended 31.03.2021 and its balance sheet as on that date: Receipts Cash in hand Cash at bank Donations Subscriptions Entrance fees Interest received from bank Sale of old newspaper Sale of drama tickets *Payments 4,000 Salary 10,000 Repair expenses 5,000 Purchase of furniture 12,000 Misc. expenses 1,000 Purchase of investments 500 Insurance premium 150 Snooker table 1,050 Stationary Drama expenses 2,000 500 6,000 500 6,000 200 8,000 150 500 Cash in hand (closing) Cash at bank (closing) 2,650 7,200 33,700 33,700 The following adjustments are to be made while drawing up the accounts: 1. Subscriptions in arrear for year 2020-21 900 and subscriptions in advance for 2021-22 * 350. 2. Insurance premium outstanding 40 and Misc. expenses prepaid *90. 3. 50% of donation is to be capitalized. 4. 5. 6. Entrance fees are to be treated as revenue income. 8% interest has accrued on investment for five months. Snooker table costing 30,000 was purchased on 31st March, 2020 and 22,000 were paid for it. From the following receipts and payments account of Pune Club, prepare income and expenditure account for the year ended 31.03.2021 and its balance sheet as on that date: Receipts Cash in hand Cash at bank Donations Subscriptions Entrance fees Interest received from bank Sale of old newspaper Sale of drama tickets *Payments 4,000 Salary 10,000 Repair expenses 5,000 Purchase of furniture 12,000 Misc. expenses 1,000 Purchase of investments 500 Insurance premium 150 Snooker table 1,050 Stationary Drama expenses 2,000 500 6,000 500 6,000 200 8,000 150 500 Cash in hand (closing) Cash at bank (closing) 2,650 7,200 33,700 33,700 The following adjustments are to be made while drawing up the accounts: 1. Subscriptions in arrear for year 2020-21 900 and subscriptions in advance for 2021-22 * 350. 2. Insurance premium outstanding 40 and Misc. expenses prepaid *90. 3. 50% of donation is to be capitalized. 4. 5. 6. Entrance fees are to be treated as revenue income. 8% interest has accrued on investment for five months. Snooker table costing 30,000 was purchased on 31st March, 2020 and 22,000 were paid for it.

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