Receipts and Payments Account for the year ended 31st March
2004.
Receipts
|
Amount
(Rs.)
|
Payments
|
Amount
(Rs.)
|
To Balance b/d
|
4160
|
By Salaries
|
5500
|
To Subscription:
|
By Entertainment Expenses.
|
2580
|
|
2003 – 04
|
16000
|
By Lighting
|
1000
|
2004 – 05
|
412
|
By General Expenses
|
1536
|
To Donation
|
2000
|
By Taxes
|
500
|
To Receipts from Entertainment
|
3644
|
By Investments
|
12000
|
To Interest on Investment
|
324
|
By Printing and Stationery
|
944
|
To Entrance Fees
|
4500
|
By Expenses of 2002 – 03
|
2400
|
To Prize Fund
|
3000
|
By Fixed Deposit
|
4000
|
By Bank Balance
|
3000
|
||
By Balance C/d
|
580
|
||
34040
|
34040
|
Adjustments:
(1) There
are 450 members paying an annual subscription of Rs. 40 each.
(2) Salary
outstanding on 31st March, 2004 was Rs. 1,000.
(3) Building
stood in books Rs. 60,000 and furniture at Rs. 4,600 on 1st April,
2003. Write off depreciation on these assets @ 2% and 10% respectively.
(4) Interest
on investment @ 5% has accrued for 3 months.
(5) The
capital fund was Rs. 66,360 on 1st April, 2003.
(6) 60%
of the entrance fee is to be capitalised.
Income & Expenditure
A/c for the years ended 31-3-2004
Expenditure
|
Rs.
|
Rs.
|
Income
|
Rs.
|
Rs.
|
To Entertainment
Expenses
|
2580
|
By Donation
|
2000
|
||
To Salaries
|
5500
|
By Receipt from
Entertainment
|
3644
|
||
Add: Outstanding
|
1000
|
6500
|
By Interest on
Investment
|
324
|
|
To Lighting
|
1000
|
Add: O/S Interest
|
150
|
474
|
|
To General Expenses
|
1536
|
By Entrance Fees
|
4500
|
||
To Taxes
|
500
|
Less: Capitalised
|
(2700)
|
1800
|
|
To Printing &
Stationery
|
944
|
By Subscription
|
18000
|
||
To Depreciation
|
|||||
Building
|
1200
|
||||
Furniture
|
460
|
1660
|
|||
To Surplus
(Income over
Expenditure)
|
11198
|
||||
25918
|
25918
|
Balance Sheet as on
31-3-2004
Liabilities
|
Rs.
|
Rs.
|
Assets
|
Rs.
|
Rs.
|
Capital Fund
|
66360
|
Building
|
60000
|
||
Add: Entrance Fees
|
2700
|
Less: Depreciation
|
(1200)
|
58800
|
|
69060
|
Furniture
|
4600
|
|||
Add: Surplus
|
11198
|
80258
|
Less: Depreciation
|
(460)
|
4140
|
Prize Fund
|
3000
|
Investments
|
12000
|
||
Outstanding Salary
|
1000
|
Add: Interest
|
150
|
12150
|
|
Subscription paid in advance
|
412
|
Fixed Deposit
|
4000
|
||
Bank Balance
|
3000
|
||||
Cash
|
580
|
||||
Subscription receivable
|
2000
|
||||
84670
|
84670
|