following are the balance sheet and receipt and payment account Durga sports club koratagere

following are the balance sheet and receipt and payment account Durga sports club koratagere 04. Followings are the Balance Sheet and Receipt and Payment Account Sports Club, Koratagere. Balance Sheet as on 01-01-2017 Liabilities Outstanding salary Capital fund 2,000 32,500 34,500 Assets Cash balance O/ S subscriptions Sports Materials Furniture Receipt and Payment A/C for the year ended 31 -12-2017 Receipts To Balance b/d To Su bscriptions To Entrance Fees To Sale of old newspapers To Sale of old sports materials To Rent Adjustment: 7 ,300 38,000 2,000 200 1,200 7 , 000 55,700 Payments By Salary By purchase of Sports Materials By Investments By Fixed Deposits By Postage By General expenses By Lighting Charges By Balance c/ d 7,300 1,200 16,000 10,000 34,500 10,000 6,000 20,000 10,000 300 400 1,300 7,700 55,700 a. Subscriptions outstanding for the year 2017 is 3,000. b. Subscriptions received in advance for the year 2018 c. Depreciate sports materials by d. Capitalize entrance fees. e. Outstanding lighting charges 300. Prepare: (i) Income and Expenditure Account and (ii) Balance Sheet as on 31-12-2017. Answer: 1 & E A/C Surplus 31,900, Total of B/S 67,700

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