Q. Following is the Receipts and Payments Account of Citizen Club for the 
year ended 31st March. 2018 : 
 
Receipts Rs. Payments Rs.
To Balance b/d 
To Subscriptions (including 
Rs 10,000 for 2018-19) 
To Life Membership Fee 
To Interest on Investments 
7% p.a. for full year)
2,40,000

5,80,000
25,000

28,000
By Rent 
(paid for 11 months) 
By Insurance 
By Salaries 
By Stationery purchased 
By Balance c/d 

1,76,000
3,000
2,64,000
60,000
3,70000
, 8,73,000   8,73,000


Prepare Income and Expenditure Account for the year ending 31st March, 2018 
and the Balance Sheet as at that date after considering the following information : 
(i) Subscription in arrear on 31st March, 2017 were Rs. 30,000 and on 31st March 2018 were Rs. 48,000. 
(ii) Stock of stationery on 31st March, 2017 was 5,000 and on 31st March, 2018 
14,000. 
(iii) Insurance was paid on 1st January 2018 to run for one year. 

Dear Student


Regards

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