The following is the account of cash transactions of the Nari Kalayan Samittee for the year ended December 31, 2006:

Receipts	Amount Rs	Payments	Amount Rs
Balance from last year	2,270	Rent	6,600
Subscriptions	32,500	Electric charges	3,200
Life membership fee	3,250	Lecturer's fee	730
Donation	2,500	Office expenses	1,480
Profit from entertainment	7,250	Printing and Stationery	1,050
Sale of old Books (books value Rs1,000)	750	Legal fee	1,870
Interest	350	Books	6,500
		Furniture purchased	8,600
		Expenses on Nukar Drama	1,300
		Cash in Hand	8,040
		Cash at Bank	9,500
	48,870		48,870

You are required to prepare an Income and Expenditure Account after the following adjustments:

(a) Subscription still to be received are Rs 750, but subscription include Rs 500 for the year 2007.

(b) In the beginning of the year the Sangh owned building Rs 20,000 and furniture Rs 3,000 and Books Rs 2,000.

(c) Provide depreciation on furniture @ 5% (including purchase), books @ 10% and building @ 5%.

Answer rating: 100% (QA)

Nari Kalayan Samittee Income and Expenditure Account For the year ended December 31 2006 Income Subs... View the full answer