Mathematics, 31.07.2020 14:01 braisly6605
1.Following is the Receipt and Payment A/c. of a club for the year ended 31-03-2014.
Receipt ₹ Payment ₹
To Balance b/d75,000By Salaries 22,000
To Subscription By office expenses8,000
2012-13 35,000 By Sports equipment
2013-14 9,50,000 (Purchased on 1-10-2013)6,00,000
2014-15 55,00010,40,000By Telephone charges12,000
To Donation90,000By Electricity charges18,000
To Entrance Fees60,000By Travelling Expenses6,000
To Locker rent20,000By 10% Fixed Deposit
To Donation for Building1,50,000(made on 1-07-2013)7,00,000
By balance c/d.69,000
14,35,000 14,35,000
Additional information:
a) Outstanding subscription for 2013-14 ₹80,000. Outstanding salaries as on 1-04-2013 were ₹2,000 and as on 31-03-2014 were ₹4,000.
b) One third of Entrance fee to be treated as General income.
c) Locker rent rate is ₹2,000 per month.
d) Depreciation on sports equipment 10% p. a.
Prepare Income and Expenditure A/c. for the year ending 31-03-2014.
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1.Following is the Receipt and Payment A/c. of a club for the year ended 31-03-2014.
Receipt ₹ Paym...
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