Following is the Receipts & Payments Account of Leo Club for the year ended 31st March, 2023:
Following is the Receipts & Payments Account of Leo Club for the year ended 31st March, 2023:
Receipts & Payments Account for the year ended 31st March, 2023
| Receipts | ₹ | Payments | ₹ |
|
To Balance b/d To Donation for Building To Life Membership Fees To Match Fund To Subscriptions To Locker Rent To Interest on Investments To Sale of Furniture (Book Value ₹ 8,000) To Entrance Fees |
1,800 50,000 4,000 8,000 5,200 400 1,000 10,000 5,000 |
By Building By Match Expenses By Furniture By 10% Investments (Purchased on 1st July, 2022) By Salaries By Insurance By Sundry Expenses By Balance c/d |
40,000 9,000 12,100 16,000 7,000 350 470 480 |
| Â | 85,400 | Â | 85,400 |
Additional Information:
(i) During the year 2022-23, the Club had 550 members and each paying an annual subscription of ₹ 10.
(ii) Donation for Building includes 10% general donations.
(iii) Salaries Outstanding as at 1st April, 2022 were ₹ 1,000 and as at 31st March, 2023, were ₹ 500.
Prepare the Income & Expenditure Account of the Club for the year ended 31st March 2023.
Anurag Pathak Changed status to publish February 7, 2024
