Following is the receipt and payment account of friends recreational club for the year ended 31st...

  

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Following is the receipt and payment account of friends recreational club for the year ended 31st dec. 2018. Prepare Income and expenditure account: Receipts Balance b/d Annual subscription Annual membership Entrance fee Interest on securities Sundry receipts 800 1,200 400 2,200 600 100 5,300 Rs. Payments General Expenditure Salaries&Wages Furniture Rent & rates Printing Repairs Balance c/d Rs. 410 130 1600 370 500 180 2110 5,300 Annual subscription in arrears Rs.100. General expenses outstanding Rs.150. Secretary's salary Rs.150 sanctioned but had not been paid. Rs.200 are to be written off as depreciation on furniture. ½ of entrance fee is to be capitalized. Following is the receipt and payment account of friends recreational club for the year ended 31st dec. 2018. Prepare Income and expenditure account: Receipts Balance b/d Annual subscription Annual membership Entrance fee Interest on securities Sundry receipts 800 1,200 400 2,200 600 100 5,300 Rs. Payments General Expenditure Salaries&Wages Furniture Rent & rates Printing Repairs Balance c/d Rs. 410 130 1600 370 500 180 2110 5,300 Annual subscription in arrears Rs.100. General expenses outstanding Rs.150. Secretary's salary Rs.150 sanctioned but had not been paid. Rs.200 are to be written off as depreciation on furniture. ½ of entrance fee is to be capitalized.

Answer rating: 100% (QA)

Step 1 Not for Profit OrganisationS These are the organisations whose motive is not to earn profit b... View the full answer