Question: i will definitely give feedback to your response please provide correct Answers. Q. 1. From the following information, prepare Income and Expenditure A/c for the

i will definitely give feedback to your response please provide correct

i will definitely give feedback to your response please provide correct Answers.

Q. 1. From the following information, prepare Income and Expenditure A/c for the year ending on 31st March, 2016 of an Entertainment Club : Receipts $ Payments $ Cash Balance 1-4-2015 7,200 Rent 48,000 Life Membership Fees 50,000 Furniture Purchased 50,000 Locker's Rent 22,000 Salary 2,40,000 Entrance Fees 5,700 Insurance Premium 12,600 Subscriptions Telephone Charges 18,200 2014-15 14,200 Printing 4,100 2015-16 3,46,000 Investments Purchased 3,00,000 2016-17 11,600 3,71,800 Cash Balance 31-3-2016 11,500 Donation for Swimming Pool 2,00,000 Interest 15,000 Miscellaneous Income 200 Income from Advertisement 12,000 6,84,400 6,84400

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

i will definitely give feedback to your response please provide correct Answers. The sports club received $ 6,50,000 by way of subscription during year ended on 31st March 2017 Additional Information...

i will definitely give feedback to your response please provide correct Answers. X and Y are partners sharing profits in the ratio of 2:1. The undermentioned trail balance sheet extracted from their...

i will definitely give feedback to your response please provide correct Answers. As per Receipts and Payments Account for the year ended on March 31st, 2017, the subscriptions received were $...

ANSWER ALL THE QUESTIONS Question 1 Khaki & Sons Limited (KSL) is a family business that deals in car spare parts. It is one of the largest dealers in car spare parts in Uganda. Since inception in...

Old MathJax webview need explaination on all all question is complete Chapter 3 Quality Management Chapter Overview (1) TOM Basics Basic Concepts Stages in TQM PRAISE Process TQM Principles of TQM...

PART A - Recording Transactions One Time Hits Electronic Company buys and sells DVD players, VHS players, and Phonographs. They use the periodic inventory method to record cost of goods sold. This...

Please provide correct answer for income tax on budgeted income statement. Please provide correct answers for income taxes payable and retained earnings on the budgeted balance sheet. All other...

Question 1 (10 marks) Mac Ltd. provides legal advice to customers for fees. On 30 June 2020, Mac Ltd. completed its first year of operations. Some of the ledger account balances of the business,...

Please provide correct answers to questions provided. I have been getting incorrect answers to these questions so please carefully provide right answers. I will upvote!! Appreciate it! M Question 14...

uestion: 1. IN A STOCK ACQUISITION ACCOUNTED FOR BY THE EQUITY METHOD, A PORTION OF THE PURCHASE PRICE OFTEN IS ATTRIBUTABLE TO GOODWILL OR TO SPECIFIC ASSETS OR LIABILITIES. HOW OR UNDER WHAT BASIS...

Assume the same facts as E7- 17, except that JayZ is required to make the annual payments at the end of the year. Would his decision be the same? In E7-17 JayZ reports outstanding debt on his balance...

Donald's Inc. would like to declare a cash dividend. Partial financial information for Donald's Inc. is below. $ 52,000 $ 50,000 $ 27,500 $ 19,200 Cash balance Retained Earnings Accounts Receivable...

Idk how todo probability and I need to learn the odds against and odds in favour

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

Read the Alberga (1997) article on IiP, then talk to two people who have had experience as employees of IiP and compare their views of the effectiveness of the accreditation

Identify the benefi ts to management of introducing coaching and/or mentoring into your organisation.

Debate the viewpoint that cyber- harassment and bullying can be just as demeaning as conventional bullying but may not receive the same degree of sympathy from witnesses.