Pls.prepare income and expenditue account

Dear student,

   Income & Expenditure a/c

Expenditure	Amount	Income	Amount
Salaries	31500	Subscription  60,000 (+) outstanding 15000	75000
Postage	1250	Entrance fees	1100
Rent	9000	Sale of old magazines	450
Printing & Stationery	14000	Interest on investment	3500
Consumption of sports material	10000
Depreciation on furniture	1000
Surplus	10200
	80,050		80,050

Working note
1. Consumption of sport material = opening stock + purchases - closing stock =3000+11500-4500=10000
2. depreciation on furniture = 20,000 X 10% X 6/12 = 1000
3.Interest on investment 7000 X 10% X X6/12 = 3500

Regards