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Following is the Receipts and Payments A...

Following is the Receipts and Payments Account of Indian Sports Club, prepare Income and Expenditure Account and Balance Sheet as on 31st march 2019 :

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Subscription outstanding was on 31st march 2018 Rs. 12,000 and Rs. 32,000 on 31st March 2019 . Lockers rent outstanding on 31st March 2019 Rs. 2,500 .Salary outstanding on 31st March 2019 Rs. 10,000.
On 1st April club has Building Rs.3,60,000 furniture Rs. 1,20,000 .Sports equipments Rs. 1,75,000. Depreciation charged on these items `"@" 10%` (including purchase).
Legacy Donation is for constructing hostel for sports persons.

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