Following is the Receipts & Payments Account of Semond Football Club:
Following is the Receipts & Payments Account of Semond Football Club:
Receipts & Payments Account for the year ended 31st March, 2023
| Receipts | ₹ | Payments | ₹ |
|
To Balance b/d To Subscriptions To Tournament Fund To Interest (Investments) To General Donations To Sale – Concert Tickets |
1,82,000 1,80,000 1,64,000 65,000 1,12,000 2,47,000 |
By Salaries paid to Coaches By Printing and Stationery By Rent By Telephone Expenses By Sports Material By 6% Investments By Miscellaneous Expenses By Concert Expenses By Balance c/d |
1,66,000 32,000 48,000 8,000 78,000 5,00,000 24,000 58,000 36,000 |
| Â | 9,50,000 | Â | 9,50,000 |
Additional Information:
(i) Subscriptions include ₹ 12,000 for 2021 – 22 and ₹ 18,000 for 2023 – 24.
(ii) Stock of Stationery on 31st March, 2022 and 2023 was ₹ 7,200 and 5,400 respectively.
(iii) Stock of Sports material at the beginning and end of the year was ₹ 12,000 and ₹ 21,000 respectively.
(iv) Rent includes ₹ 4,000 paid for March, 2022. Rent for March, 2023 is outstanding.
(v) Telephone expenses include ₹ 3,000 as quarterly rent up to 31st May, 2023.
(vi) The value of Building as on 31st March, 2022, was ₹ 8,00,000 and you are required to write off depreciation at 10%.
(vii) The value of investments on 31st March, 2022 was ₹ 10,00,000 and the club made similar additional investments during the year on 1st October, 2022.
Prepare the club’s income & Expenditure Account for the year ending on 31st March, 2023. 
Anurag Pathak Changed status to publish February 8, 2024
