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Following is the Receipt and Payment Acc...

Following is the Receipt and Payment Account of Women's Welfare Club for the year ended 31st March 2019

Prepare income and expenditure account for the year ended 31st March 2019 and Balance Sheet as on that date

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The correct Answer is:
Surplus -Rs 3,41 000; opening capital fund on 1st April 2018 -Rs 22,66,000; Balance Sheet Total -Rs 26,47,500
Government Grant is accounted as Revenue as it is not stated whether it is specific or general
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