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Given below is the Receipts & payments Account of Confident Sports Club for the year ending 31st March, 2023 and additional information. Prepare Inocme & Expenditure Account for the year ending 31st March, 2023 and the Balance Sheet on the same date:

Receipts & Payments Account for the year ended 31st March, 2023

Receipts   Payments

To Balance b/d

To Subscriptions:

2021-22

2022-23

2023-24

To Interest

To Sale of Furniture

To Donations for Club Building

 

 

1,200

27,360

960

 

 

 

 

5,760

29,520

240 1,200

7,200

By Purchase of Balls

By Tournament Fee

By Affiliation Fee

By Rent for Playground

By Refreshment

By Travelling Expenses

By Investments

By Salaries

By Miscellaneous Expenses

By Balance c/d

9,600

1,200

240

600

480

3,600

12,000

1,440

960

13,800

    43,920   43,920

Additional Information:

(i) Current Year’s subscription of ₹ 1,920 was still outstanding.

(ii) Interest accrued for the year but not received amounted to ₹ 60.

(iii) Book value of the furniture sold was ₹ 1,680.

(iv) Rent of the playground ₹ 720 and salaries ₹ 600 for the current year was outstanding and the rent of the playground for the year 2021-22 has been paid during the year.

(v) There was a stock of balls with the club at ₹ 480 as on 31st March, 2023.

Anurag Pathak Changed status to publish February 7, 2024
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