following is the Receipts and Payments Account of Indian Youth Association for the year ended 31st March 2019 :

Investments were made on 1st October 2018 earning interest `"@"5%` p.a., Subscriptions included Rs. 80,000 for the year ended 31st March 2018 and Rs. 40,000 for the year ending 31st March 2020, Subscriptions for the year ended 31st March 2019 Rs. 80,000 were still in arreans. Rent for March 2019 Rs 5,000 is still unpaid Rs. 3,000 are payable against a bill for stationery . Book value of the car was rs 55,000.
Prepare Income and Expenditure Account for the year ended 31st March 2019 and Balance Sheet as at that date.

Answer

N/a

Explanation