From the following prepare the Income and Expenditure for the year ended Dec 31, 2008 and a balance sheet as on that date:
|
Receipts |
Payments |
|||
|
To Ralanro hid |
vino |
By Salving |
i5_.40 |
|
|
To Subscriptions |
By Entertainment Expenses |
6.000 |
||
|
2007 |
1,000 |
|||
|
2008 |
20,000 |
|||
|
2009 |
2,000 |
|||
|
To Entertainment Receipts |
10,000 |
By Electric Charges |
2,000 |
|
|
To Sale of Old Furniture (cost Rs 1,000) |
600 |
By General Expenses |
3,000 |
|
|
To Sale of Newspapers |
400 |
By Investments |
10,000 |
|
|
by Stationary and Printing |
onn |
|||
|
By Newspapers |
3.000 |
|||
|
By Garden Expenses |
2,000 |
|||
|
By Furniture |
3,000 |
|||
|
By Balance c/d |
3,000 |
|||
|
49,000 |
49,000 |
The club has 250 members each paying an annual subscription of Rs 100. Rs 500 is still in arrears for subscriptions for 2007. Ten members had paid their subscriptions for 2008 as well.
Salaries paid included Rs 1,000 for 2007 and Rs 1,500 for 2009. Outstanding salaries for 2008 amounted to Rs 2,000.
On Jan 1, 2008, the club owned land and building valued at Rs 1,00,000 and furniture valued at Rs 11,000.