Vasant sport and social clubs financial year on Mar 31. The assets and liabilities of the club at dates stated as follows:
|
As on Mar 31, 2008 |
As on Mar 31, 2009 |
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|
Equipment |
50,000 |
56,000 |
|
|
Subscription in Arrears |
4,000 |
3,600 |
|
|
Subscription in Advance |
2,600 |
2,200 |
|
|
Creditors for Bar Stocks |
7,000 |
8,600 |
|
|
Bar Stocks |
16,000 |
12,000 |
|
|
Electricity Owning |
2,010 |
2,800 |
|
|
Lottery Fund |
1,000 |
— |
|
|
Bank Balance |
14,460 |
— |
|
In the year to Mar 31, 2009 the cash receipts |
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|
Subscriptions (including Rs 1,200 of arrears from previous year) |
42,000 |
|
|
Bar Trading |
82,000 |
|
|
Annual Dinner/Dance Sale of Tickets |
48,000 |
|
|
Sale of Lottery Tickets |
3,600 |
|
|
In the same period the following payments have been made |
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|
Affiliation Fees (for four years) |
2,000 |
|
|
Purchase of Equipment |
16,000 |
|
|
Bar Stocks |
41,000 |
|
|
Barman’s Wages |
15,000 |
|
|
Catering (dinner/dance) |
28,800 |
|
|
Hair of Baud |
6,000 |
|
|
Lottery Prizes |
1,200 |
|
|
Rent of Hall |
30,000 |
|
|
Printing and Postage |
4,000 |
|
|
Electricity |
11,620 |
|
|
Honorary Secretary’s Expenses |
2,440 |
|
|
Repairs to Equipment |
6,000 |
|
Note: Subscription arrears of previous year written off Rs 800
Prepare:
(1) Bar Trading Account (2) Income and Expenditure Account for the year ending Mar 31, 2009 and (3) Balance Sheet as on that date.