From the following extracts of Receipts and Payments Account and additional information you are required to calculate the income from subscriptions for the year ending Dec 31, 2008 and show them in the Income and Expenditure Account and the Balance Sheet of a recreation club in Delhi.
Extract of Receipts and Payments Accounts for the Year Ended Dec 31, 2008
|
Dr. |
Cr. |
||
|
Receipts |
Rs |
Payments |
Rs |
|
To Subscription |
|||
|
2007: 5,000 |
|||
|
2008:30,000 |
|||
|
2009:6000 |
41,000 |
Additional information
- Subscription outstanding on Dec 31, 2007 – Rs 6000
- Subscriptions outstanding on Dec 31, 2008 – Rs 5,000
- Subscriptions received in advance on Dec 31, 2007 – Rs 6,000