From the following Receipts and Payments Account of Accountans Club prepare Income and Expenditure Account for the year ended 31st March 2019 :

(i) Subscriptions in arrears for the year ended 31st March 2019 -Rs 1,35,000 and Subscriptions received in advance during the year ended 31st March 2019 -Rs 39,000.
(ii) Insurance Premium prepaid is Rs 3,000
(iii) the detail with respect to Stationery of Accountants club is as follows :
`{:(,"31st March",,"1st April"),(,"2019Rs",,"2018Rs"),("Stock of Stationery","30,000",,"5,000"),("Creditors for Stationery","40,000",,"26,000"),("Advance for Stationery paid in 2018-19","7,000",,"....."),("Advance paid for Stationery carried from 2017-18","5,000",,"......"):}`

Answer

N/a

Explanation

`{:("Working Note:",,,"89,000"),("Add: Stock for Stitonery",,,"5,000"),("Advance paid in 2017-18",,,"5,000"),("Creditors for Stationery (31st March 2019)",,,underset(___)("40,000")),(,,,"1,39,700"),("Less: stock of Staionary (31st March,2019)",,"30,000",),("Advance paid (2018-2019)",,"7,000",),("Creditors for stationery (1st April 2018)",,"26,000","63,000"),("Stationery Consumed during the year",,,"76,700"):}`
Alternatively consumption of Stationery may be Calculated by preparing following two accounts :