following are the balance sheet and receipt and payment account of Malnad Sports club chikkamangalore
following are the balance sheet and receipt and payment account of Malnad Sports club chikkamangalore 05.
Followings are the Balance Sheet and Receipt and Payment Account of Malnad
Sports Club, Chikkamagaluru.
Balance Sheet as on 31-03-2017
Liabilities
Outstanding salary
Outstanding rent
Subs. received in
advance
Capital Fund
Assets
3 Cash at Bank
800 Outstanding su bs.
Investments
4,000 Sports Materials
1,3(),8()() Furniture
Receipt and Payment A/C for the year ending 31-03-2018
Dr.
Receipts
To Balance b/d
To subscriptions
2016-17
2017-18
2018-19
To Donations
To Entrance fees
To Interest
To Sale of old sports
materials
Adjustments:
52,400
4,800
90,200
4,200
32,400
65,200
2,800
2,000
Payments
By Rent: 2016-17
2017-18
By Salaries: 2016-17
2017-18
2018-19
By Printing
By General Expenses
By Furniture
(31-03-2018)
By Sports Materials
(01-10-2017)
By Balance c/d
52 ,400
4,800
5,200
43,600
32,800
800
8,800
3,200
46,400
2,400
15,200
10,800
57 ,600
60,800
a. Subscriptions outstanding 5,600.
b. Printing unpaid 1,000.
c. Interest accrued 800.
d. Depreciate furniture by 10% and sports materials by 10%.
e. Capitalize 50% of donations.
Prepare: (i) Income and Expenditure account and
(ii) Balance Sheet as on 31-03-2018.
Answer: 1 & E A/C surplus 92,080, Total of B/S 2,44,280