Problem $1($D$)$

Prepare Receipts and Payments Account of Chaman Club from the following information :

Receipts : Subscriptions received $2,400$; Rent of room $140$; Games fees $700$ ; Receipts from canteen $1,500$ ; Interest on investment $720$ ; Entrance fees $600$ ; Donation $1,200.$

Payments : Repairs $144$; Petty expenses $240$; Salaries $1,200$ ; Printing and stationery $360$; Canteen stores $1,020$ ; Wages of guard $816$; electric charges $480$; Rent and Taxes $600.$

Note : There were outstanding salary $300$ and accrued subscription $500$ at the end of the year. Furniture is to be depreciated by $200.$ Cash Balance $1$st January, $20181,116,$ Cash Balance $31$st December, $20183,516.$