The following balances is obtained from the books of Jaipur Cricket as on Mar 31, 2008 and on Mar 31, 2009.
|
Mar 31, 2008 |
Mar 31, 2009 |
||
|
Building |
1,60,000 |
1,71,000 |
|
|
Furniture |
80,000 |
61,200 |
|
|
Advance Subscription |
3,000 |
2,000 |
|
|
Pre-paid Expenses |
1,600 |
2,000 |
|
|
Outstanding Expenses |
6,000 |
2,400 |
|
|
Arrears of Subscriptions |
6,000 |
10,000 |
|
|
Sports Equipments |
48,000 |
43,200 |
|
|
Investments |
— |
24,000 |
|
|
Books |
30,000 |
32,400 |
|
|
Cash |
32,000 |
34,200 |
Consider the following information relevant to the year 2008–2009:
- Deprecation provided during the year:
|
Building |
: |
Rs 9,000 |
|
Furniture |
: |
Rs 6,800 |
|
Sports Equipment |
: |
Rs 10,800 |
|
Books |
: |
Rs 3,600 |
- Some old furniture standing in the books for Rs 12,000 on Mar 31, 2008 was sold for Rs 8,000.
- The club had 300 members on Mar 31, 2009. No fresh member was admitted during the year but 10 members left the club on Oct 1, 2008.
- Subscription payable: Rs 30 per month.
- Entrance fees received Rs 10,000 has been capitalised and you are required to prepare the Receipts and Payments Account and Income and Expenditure Account for the year ended Mar 31, 2009.