Following is the receipts and Payments Account of Star club for the year ended March 31st 2013: Receipts Payments $ 4,400 By Salaries 46,100 By Rent 2,500 By Printing and Stationery 12,000 By Expenses on Charity Show 6,000 By Tourmament Expenses 20,000 By Investments purchased By Furniture 5,200 By Balance c/d on 31-3-2013 18,200 15,000 7,300 16,100 7,500 To Balance b/d on 1-4-201:2 To Subscriptions To Interest To Tournament Fund To Donation To Donation for Building e:ctension To Receipts from advertisement 10,000 6,000 16,100 in the year book 96,200 96,200 Subscriptions outstanding on 31st March, 2012 were $ 4,500 and on 31st March, 2013 were $ 6,000. Rent outstanding at the beginning of the year was $1,000 and in the end was $ 1,500. Furniture was purchased on 1st July, 2012. On 1st April, 2012 the Club had Furniture valued $ 8,000 and Investments valued $ 15,000. Prepare Income and Expenditure A/c for the year ended 31st March, 2013 and a Balance Sheet as at that date, after depreciating furniture by 10% p.a.
Following is the receipts and Payments Account of Star club for the year ended March 31st 2013: Receipts Payments $ 4,400 By Salaries 46,100 By Rent 2,500 By Printing and Stationery 12,000 By Expenses on Charity Show 6,000 By Tourmament Expenses 20,000 By Investments purchased By Furniture 5,200 By Balance c/d on 31-3-2013 18,200 15,000 7,300 16,100 7,500 To Balance b/d on 1-4-201:2 To Subscriptions To Interest To Tournament Fund To Donation To Donation for Building e:ctension To Receipts from advertisement 10,000 6,000 16,100 in the year book 96,200 96,200 Subscriptions outstanding on 31st March, 2012 were $ 4,500 and on 31st March, 2013 were $ 6,000. Rent outstanding at the beginning of the year was $1,000 and in the end was $ 1,500. Furniture was purchased on 1st July, 2012. On 1st April, 2012 the Club had Furniture valued $ 8,000 and Investments valued $ 15,000. Prepare Income and Expenditure A/c for the year ended 31st March, 2013 and a Balance Sheet as at that date, after depreciating furniture by 10% p.a.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Following is the receipts and Payments Account of Star club for the year ended March 31$t, 2013:
Receipts
Payments
4,400 By Salaries
46,100 By Rent
2,500 By Printing and Stationery
12,000| By Expenses on Charity Show
6,000 By Tournament Expenses
20,000 By Investments purchased
By Furniture
5,200 By Balance c/d on 31-3-2013
18,200
15,000
7,300
16,100
7,500
10,000
6,000
16,100
To Balance b/d on 1-4-201:2
To Subscriptions
To Interest
To Tournament Fund
To Donation
To Donation for Building e:ctension
To Receipts from advertisement
in the year book
96,200
96,200
Subscriptions outstanding on 31st March, 2012 were $ 4,500 and on 31st March, 2013 were $ 6,000.
Rent outstanding at the beginning of the year was $1,000 and in the end was $ 1,500. Furniture was
purchased on 1st July, 2012.
On 1st April, 2012 the Club had Furniture valued $ 8,000 and Investments valued $ 15,000.
Prepare Income and Expenditure A/c for the year ended 31st March, 2013 and a Balance
Sheet as at that date, after depreciating furniture by 10% p.a.
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