From the following receipts and payments account of jaipur sports club prepare income and expenditure account for the year ended 31 march 2016.
Dear Student,
Please find the Income and Expenditure a/c as below:
Working note of rent = Total paid-related to last year =
Working note of insurance = Total paid during the year-advance payment for next year=
Working note of Subscription = , total amount for the whole year will be =
Working note of Interest on FD =
Regards
Please find the Income and Expenditure a/c as below:
Income and Expenditure Account for the year ending on 31st March 2016 |
|||
Dr. | Cr. | ||
Expenditure | Amount (Rs) |
Income | Amount (Rs) |
Printing and Stationery | 2000 | Subscription | 10000 |
Miscellaneous Expenses | Entrance Fees | 5000 | |
Rent Paid | 4500 | Donation for Tournament | 5000 |
Insurance Expenses | 4500 | Subscription for Governor’s Party | 1500 |
Sports Material | 5000 | Interest on FD | 480 |
Tournament Expenses | 1000 | Sale of Old Sports Material |
30 |
Books | 2000 | Sale of old sports Material (book value 120) | 50 |
Suerplus (Excess of Income over Expenditure) |
15680 | Locker rent |
620 |
34680 | 34680 | ||
Working note of rent = Total paid-related to last year =
Working note of insurance = Total paid during the year-advance payment for next year=
Working note of Subscription = , total amount for the whole year will be =
Working note of Interest on FD =
Regards