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Sweet Valley Sports Club gives you the following Receipts & Payments Account for the year ended 31st March, 2023.

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

Receipts   Payments  

To Balance b/d:

Cash

Bank

To Subscriptions

To Tournament Receipts

To Life Membership Fees

To Entrance Fees

To Donations for Pavilion

 

3,000

30,000

 

 

33,000

65,000

20,000

30,000

6,000

25,000

By Rent

By Salaries to Coaches

By Tournament Expenses

By Office Expenses

By Sports Equipment Purchased

By Mowing Machine Purchased

By Balance c/d:

Cash

Bank

 

 

 

 

 

 

 

16,000

70,000

6,000

30,000

10,000

20,000

15,000

12,000

 

 

86,000

    1,79,000     1,79,000

Subscriptions include ₹ 5,000 for the year ended 31st March, 2022 and ₹ 4,000 were still due in respect of subscriptions for the current year.

Sports Equipment in hand on 31st March, 2022 were ₹ 10,000. The value of the equipments in hand on 31st March, 2023 was ₹ 21,000.

The Mowing Machine was purchased on 1st October, 2022 and is to be depreciated @ 10% p.a.

Income from Tournament should be credited to a newly opened Tournament Fund and the Entrance Fees are to be capitalised.

Prepare the Income & Expenditure Account of the Club for the year ended 31st March, 2023 and the Balance Sheet as at that date.

Anurag Pathak Changed status to publish February 7, 2024
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