Prepare Income and Expenditure for the year ending Mar 31, 2009 and a Balance Sheet on that date from the following details of Rock City Tennis Club, Tiruchirapalli.
Receipts and Payments Account for the year ending as at Mar 31, 2009
|
Receipts |
Rs |
Payments |
Rs |
|
Su bscription – Arrears |
1,400 |
New Equipment |
1,800 |
|
Subscription – Current |
22,000 |
Repair to Nets |
1,200 |
|
Locker Rents |
5,000 |
New Balls |
10,000 |
|
Lultural Show Receipts |
29,000 |
band Fees |
3,200 |
|
Sale of Olcl Balls |
2,400 |
Match Expenses |
1,600 |
|
Donation |
2,000 |
Rates on Club House |
4,800 |
|
Caters – Old Dues |
7,000 |
||
|
Caters – Current |
18,400 |
Information
- The Club has 60 members and the subscription rate is Rs 400 per year.
- On Mar 31, 2009, Rs 1,000 owing for tennis ball and the rates paid includes Rs 1,200 relating to the following year.
- Equipment is to be depreciated at 10% p.a. on cost including new equipment purchased.
- On Apr 1, 2008 the club had the following absents.
|
Rs |
|||
|
Freehold Club House |
: |
50,000 |
|
|
Cash at Balance |
: |
18,000 |
|
|
Equipment |
: |
27,000 |
|
|
Cash in Hand |
: |
520 |