Dlustratfollowing is the Receipts & Payments account of Urja Club for theyear ending on 31st March, 2018:56Receipts & Payments AccountReceiptsAmountPaymentsAmountingureBalance b/d2,500 SalarySubscription:2,400Advertisement400 Furniture3,500 Investment600 Newspaper2016-179502017-182,3002018-191,600レ60Donations460 Fixed deposit 10%Entrance Fee2,540(1 October, 201Sale of old machine cost price2,500Balance79050060010,60010,600Adjustments :(a) Total members of the club are 450, each pays 10 as subscription.(b) Salary is paid 250 per month.(c) Furniture is to be depreciated by 5%.Prepare Income & Expenditure Account.9450 x 10 = 4500360 045

The income and expenditure account is prepared to record the income and expenses of the current…

Receipts & Payments Account Receipts Amount Payments Amount Balance b/d 2,500 Salary 2,400 Subscription: Advertisement v 950 2016-17 400 Furniture 3,500 Investment X 600 Newspaper 460 Fixed deposit 10% 2,300 2017-18 1,600 2018-19 60 Donations Entrance Fee Sale of old machine cost price 2,540 (1 October, 201 中 2,500 Balance 790 500 600 10,600 10,600 Adjustments : (a) Total members of the club are 450, each pays 10 as subscription. (b) Salary is paid 7 250 per month. (c) Furniture is to be depreciated by 5%. Prepare Income & Expenditure Account. 9 450 x 10 = 450 360

Receipts & Payments Account Receipts Amount Payments Amount Balance b/d 2,500 Salary 2,400 Subscription: Advertisement v 950 2016-17 400 Furniture 3,500 Investment X 600 Newspaper 460 Fixed deposit 10% 2,300 2017-18 1,600 2018-19 60 Donations Entrance Fee Sale of old machine cost price 2,540 (1 October, 201 中 2,500 Balance 790 500 600 10,600 10,600 Adjustments : (a) Total members of the club are 450, each pays 10 as subscription. (b) Salary is paid 7 250 per month. (c) Furniture is to be depreciated by 5%. Prepare Income & Expenditure Account. 9 450 x 10 = 450 360

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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