From the following Recipts and payments account of Kapil Dev Club and from the given additional information, prepare income and Expenditure Account for the year ending 31st March 2019 and the Balance Sheet as at that date :

Additional information :
(i) The club had received Rs 20,000 for subscription in 2017-18 for 2018-19.
(ii) Salaries had been paid only for 11 monts.
(iii) Stock of sports material on 31st march 2018 2018 was Rs 3,00,000 and on 31st March 2019 Rs 6,50,000

Answer

Surplus(excess of income over expending )-Rs 3,10,000 ; Capital Fund on 1st April 2018-Rs 9,70,000; Balance Sheet Total -Rs 13,10,000

Explanation

N/a