From the following Receipts and Payments Account of Social club and the information Supplied prepare income and expenditure Account for the year ended 31st March 2019 and Balance Sheet as at that date:

(a) The club has 50 members each paying an annual subscription of Rs 500. Subscriptions Outstanding on 31st March 2018 were Rs. 6.000.
(b) On 31st March 2019 Salaries Outstanding amounted to Rs 2,000 Salaries paid in the year ended 31st March 2019 include Rs 6,000 for the year ended 31st March 2018.
(C) On 1st April 2018 the Club owned Building valued at Rs 2,00,000 , Furniture Rs 20,000 and Books Rs 20,000.
(D) Provide depreciation of Furniture at 10%

Answer

Surplus -Rs 5,000 ; capital Fund as at 1st April , 2018 -RS 2,47,000 ; Balance Sheet Total -Rs 2,58,000.

Explanation

N/a