From the following Receipts and payments account of a club for 2017-18, prepare Income and Expenditure...

  

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From the following Receipts and payments account of a club for 2017-18, prepare Income and Expenditure account and a balance sheet as on 31.3.2018. Receipts and Payments account Receipts To Donations received To Subscriptions To Life Memberhip fee To Tournment fund To Entrance fee To Donations for Amount (Rs.)Payments 14,000 By Salaries 6,500 By Furniture 6,000 By Games expenses 8,000 By Printing 1,200 By Tournment expenses3,000 5,000 Computer To Sale of Old Newspaper500 40,200 Amount (Rs.) 3,300 11,700 2,500 3,100 By Sports Equipment 14,000 By Balance c/d 2,600 40,200 Adjustments: 1. Subscriptions received in advance Rs. 1500 and Outstanding Subscriptions Rs. 2500. 2. Value of Sports equipment on 1.4.07 Rs. 1000 and on 31.3.2008 Rs. 9000 3. Provide Rs. 1000 depreciation on Furniture. Calculate the Amount of Surplus/Deficit from the Income and Expenditure account and mark the correct option from the following: A Surplus Rs. 1,700 B Deficit Rs. 1, 700 C Surplus Rs. 2,700 D Deficit Rs. 2,700 From the following Receipts and payments account of a club for 2017-18, prepare Income and Expenditure account and a balance sheet as on 31.3.2018. Receipts and Payments account Receipts To Donations received To Subscriptions To Life Memberhip fee To Tournment fund To Entrance fee To Donations for Amount (Rs.)Payments 14,000 By Salaries 6,500 By Furniture 6,000 By Games expenses 8,000 By Printing 1,200 By Tournment expenses3,000 5,000 Computer To Sale of Old Newspaper500 40,200 Amount (Rs.) 3,300 11,700 2,500 3,100 By Sports Equipment 14,000 By Balance c/d 2,600 40,200 Adjustments: 1. Subscriptions received in advance Rs. 1500 and Outstanding Subscriptions Rs. 2500. 2. Value of Sports equipment on 1.4.07 Rs. 1000 and on 31.3.2008 Rs. 9000 3. Provide Rs. 1000 depreciation on Furniture. Calculate the Amount of Surplus/Deficit from the Income and Expenditure account and mark the correct option from the following: A Surplus Rs. 1,700 B Deficit Rs. 1, 700 C Surplus Rs. 2,700 D Deficit Rs. 2,700

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