The Income and Expenditure Account of the Women Club for the Year ended on December 31,...

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The Income and Expenditure Account of the Women Club for the Year ended on December 31, 2021 is as follows. Income 47,500 By Subscription 5,000 By Entrance Fees 2,500 By Contribution for Annual Dinner By Annual Sports Meet Receipts 10,000 4,500 15,000 1,500 3,000 6,000 95,000 This account had been prepared after the following adjustments: Expenditure To Salaries To General Expenses To Audit Fee To Secretary's honorarium To Stationary and Printing To Annual Dinner Expenses To Interest and bank charges To Depreciation To Surplus Subscription outstanding at the end of 2020 Subscription received in advance on 31st December, 2020 Subscription received in advance on 31st December, 2021 Subscription outstanding on 31st December, 2021 75,000 2,500 10,000 7,500 95,000 6,000 4,500 2,700 7,500 4,000 Salaries outstanding at the beginning and end of the year 2021 were respectively and 4,500. General Expenses include insurance prepaid to the extent of 600. Audit fee for the year 2021 is as yet unpaid. During the year 2021 audit fee for the year 2020 was paid amounting to 2,000 The Club owned a freehold lease of ground valued at 1,00,000. The club had sports equipment on 1st January, 2021 valued at 26,000. At the end of the year 2021, after depreciation, this equipment amounted to 27,000. In the year 2020, the Club had raised a bank loan of 20,000. This was outstanding throughout the year 2021.On 31st December, 2021 in hand was 16,000. You are required to: Prepare the Receipts and Payments Account for the year ended on December 31, 2021 and the Balance Sheet as on that date. The Income and Expenditure Account of the Women Club for the Year ended on December 31, 2021 is as follows. Income 47,500 By Subscription 5,000 By Entrance Fees 2,500 By Contribution for Annual Dinner By Annual Sports Meet Receipts 10,000 4,500 15,000 1,500 3,000 6,000 95,000 This account had been prepared after the following adjustments: Expenditure To Salaries To General Expenses To Audit Fee To Secretary's honorarium To Stationary and Printing To Annual Dinner Expenses To Interest and bank charges To Depreciation To Surplus Subscription outstanding at the end of 2020 Subscription received in advance on 31st December, 2020 Subscription received in advance on 31st December, 2021 Subscription outstanding on 31st December, 2021 75,000 2,500 10,000 7,500 95,000 6,000 4,500 2,700 7,500 4,000 Salaries outstanding at the beginning and end of the year 2021 were respectively and 4,500. General Expenses include insurance prepaid to the extent of 600. Audit fee for the year 2021 is as yet unpaid. During the year 2021 audit fee for the year 2020 was paid amounting to 2,000 The Club owned a freehold lease of ground valued at 1,00,000. The club had sports equipment on 1st January, 2021 valued at 26,000. At the end of the year 2021, after depreciation, this equipment amounted to 27,000. In the year 2020, the Club had raised a bank loan of 20,000. This was outstanding throughout the year 2021.On 31st December, 2021 in hand was 16,000. You are required to: Prepare the Receipts and Payments Account for the year ended on December 31, 2021 and the Balance Sheet as on that date.

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