The secretary of a social club provides you with the following Receipts and Payments Account and the Income and Expenditure Account for the year ended Mar 31, 2009.
Receipts and Payments Account for the Year Ending Mar 31, 2009
|
Dr. |
Cr. |
|||
|
Receipts |
Rs |
Payments |
Rs |
|
|
Balance B/d |
9.000 |
Printing |
1,500 |
|
|
2007 2008 |
2,000 |
Advertisements |
2,820 |
|
|
2008 2009 |
3,000 |
5,000 |
Salary |
26,000 |
|
Tuition Fees |
Furniture Purchased |
13,400 |
||
|
2008 2009 |
20,000 |
Rent Paid |
10,400 |
|
|
2009 2010 |
2,000 |
22,000 |
Miscellaneous Expenses |
2,200 |
|
Entrance Fees |
Balance c/d |
27,480 |
||
|
2008 2009 |
8,400 |
|||
|
Membership Fees |
||||
|
2007 2008 |
6,000 |
|||
|
2008 2009 |
23,000 |
|||
|
2009 2010 |
7,800 |
36,800 |
||
|
Miscellaneous income |
2,600 |
|||
|
83,800 |
83,800 |
Income and Expenditure Account for the year ending Mar 31, 2009
|
Dr. |
Cr. |
||
|
Expenditure |
Rs |
Income |
Rs |
|
Printing |
1,600 |
Tuition Fees |
22,000 |
|
Advertisement |
3,000 |
Membership Fees |
23,000 |
|
Rent Paid |
12,000 |
Miscellaneous |
2,600 |
|
Salary |
24,000 |
Income |
3,200 |
|
Miscellaneous Expenses |
2,200 |
Interest |
|
|
Excess of Income over Expenditure |
8,000 |
||
|
50,800 |
50,800 |
The club had the following assets on Mar 31, 2008:
|
Investments |
Rs 80,000 |
|
Furniture |
Rs 20,000 |
|
Reference Books |
Rs 10,000 |
You are required to prepare the Balance Sheets of the club as on Mar 31, 2008 and Mar 31, 2009.