Following Receipts and payments Accounts was prepared from the Cash book of Delhi Charitable Trust for the year ending31st March 2019:

Prepare income and Expenditure account for the year ended 31st March 2019 and Balance Sheet as on that date after the following adjustments :
(i) insurance premium was paid for insurance taken w.e.f. 1st july 2018 .
(ii) interest on investment Rs 11,000 accued was not received.
(iii) Rent Rs 6,000, Salary Rs 9,000 and advertisement expenses Rs 10,000 outstanding as on 31st March 2019
(v) Legacy Donation is towards construction of Libaray Block .

Answer

Surplu-Rs 2,75,000 ; Capital Fund (1st April 2018) -Rs 2,41 ,000; Total of Closing Balance Sheet -Rs 7,21,000.

Explanation

N/a