How will be the following dealt while preparing the Income & Expenditure Account of North Sports Club for the year ending on 31st March, 2023 and a Balance Sheet as on that date?
How will be the following dealt while preparing the Income & Expenditure Account of North Sports Club for the year ending on 31st March, 2023 and a Balance Sheet as on that date?
| Particulars | 1st April, 2022 (₹) | 31st March, 2023 (₹) |
|
Outstanding Subscription Advance Subscription Outstanding Salaries Prepaid Salaries Amount due to Supplier of Sports Materials Advance to Suppliers of Sports Materials Stock of Sports Materials |
19,000 5,600 30,000 10,000 30,000 10,000 30,000 |
14,000 10,400 18,000 6,000 18,000 6,000 14,000 |
During the year, payment made to the suppliers of Sports Materials was ₹ 1,08,000 and Cash Purchases amounted to 20% of Credit Purchases. Subscription received ₹ 2,97,800; Salaries paid ₹ 1,08,000. 
Anurag Pathak Changed status to publish February 7, 2024
