From the following Receipts and payments Account of Mumbai Theatre Club. Prepare income and expenditure account for the year ended 31st March 2019 and Balance Sheet as at that date:

Additional Information :
(i) Subscription in arrear for the year ended 31st March 2019 Rs 9,000 and subscription in advance for the year ending 31st March 2020 Rs 3,500.
(ii) insurance Premium outstanding Rs 400.
(iii) Miscellaneous expenses prepaid Rs 900. ,
(iv) 8% interest has accued on investment for five months.
(v) Billiard Table costing Rs 3,00,000 was puchased during last year and Rs 2,20,000 were paid for it

Answer

Surplu-Rs 1,66,500 ; Capital Fund (Beginning ) -Rs 3,60,000; Balance Sheet Total (31,3.2019) -RS 5,30,400.

Explanation

N/a