From the following Receipts and Payment account of Yercaud Youth Association, prepare
Income and expenditure account for the year ended 31st March, 2019 and the balance sheet as on that date.
Dr. Receipts and Payments Account for the year ended 31st March, 2019 Cr
| Receipts |
Rs. |
Payments |
Rs. |
| To Balance b/d |
|
By Salary |
14,000 |
| Cash in hand |
9,600 |
By Office expenses |
7,200 |
| To Government grants |
|
By Books purchased |
15,000 |
| for purchase of books |
10,000 |
By Stationery purchased |
1,800 |
| To Subscription |
24,800 |
By Newspaper purchased |
2,100 |
| To Admission fees |
2,000 |
By Prizes awarded |
5,000 |
| To Prize fund receipts |
6,000 |
By Balance c/d |
|
| To Bank interest |
1,500 |
Cash in hand |
9,900 |
| To Sale of newspapers |
1,100 |
|
|
| |
55,000 |
|
55,000 |
Additional information:
(i) Opening capital fund Rs.20,000.
(ii) Stock of books on 1.4.2018 Rs.9,200.
(iii) Subscription due but not received Rs1,700.
(iv) Stock of stationery on 1.4.2018 Rs.1,200 and stock of stationery on 31.3.2019, Rs.2,000
