How will you deal with the following items while preparing the Restaurant Trading Account and Income and Expenditure Account of a club for the year ending on Mar 31, 2009.
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Apr 1, 2008 |
Mar 31, 2009 |
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Stock of provisions |
1,500 |
19,000 |
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Dues from members for provisions |
1,500 |
2,000 |
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Creditors to provisions |
5,000 |
2,500 |
Creditors to Provisions
Information: Payments made to creditors for provisions: Rs 52,500; Collection from credit members for Provisions Rs 44,500; cash sales being 10% of total sales. Cash purchases being 1/1 1 of the total purchases, wages, fund, etc. Rs 2,500.