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.