Following is the summary of bank transactions of a club during the year 2008.
Receipts and Payments Account
|
Receipts |
Rs |
Payments |
Rs |
||
|
To Potty Cash in Hand |
300 |
fly Pont |
1200 |
||
|
To Balance ac per Pass Rook |
4000 |
By Fntortainmpnt |
1.,600 |
||
|
To Subscriptions |
5,000 |
By Advertisement l 1 |
400 |
||
|
To Entertainment |
3,800 |
(for 2007 Rs 100) |
|||
|
To Legacy |
1,600 |
By Capital Expenditure |
4,000 |
||
|
To Donation for Books |
1,000 |
By Upkeep of Grounds |
600 |
||
|
To General Donation |
1,000 |
By Bank Charges |
60 |
||
|
By Salary |
3,000 |
||||
|
by Petty txpenses |
tbr) |
||||
|
By Balance as per Pass Book |
5,540 |
||||
|
By Petty Cash in Hand |
140 |
||||
|
16,700 |
16,700 |
||||
Additional Information
|
Jan 1, 2008 |
Dec 31, 2008 |
|
|
Unperfected cheque, being payment for rent |
200 |
100 |
|
Interest on fixed deposit of Rs 20,000 not entered in the Pass Book |
– |
1,200 |
|
Entry in respect of bank charges was not passed through the cash book |
– |
60 |
|
A member deposited subscription for 2009, direct into bank, not passed through cash book |
– |
40 |
|
Cheque deposited for subscription but not yet cleared by the bank. |
1,600 |
1,200 |
You are required to prepare Income and Expenditure Account for the year ending Dec 31, 2008 and Balance Sheet as on that date.