RECEIPTS AND PAYMENTS ACCOUNT OF BHARTI CLUB
for the year ended 31st March, 2019
| Receipts | Amount | Payments | Amount |
| To Balance b/d | 10,500 | By Salary | 25,000 |
| To Subscriptions | 70,500 | By Travelling Expenses | 4,000 |
| To Donations | 5,000 | By Stationery | 13,000 |
| To Life Membership Fees | 10,000 | By Rent | 32,000 |
| To Income from Investments | 2,000 | By Books | 4,000 |
| By Balance c/d | 30,000 | ||
| 98,000 | 98,000 |
Additional Information:
| Particulars | 31st March 2018 | 31st March 2019 |
| Advance Subscription | 2,000 | 3,500 |
| Outstanding Subscription | 3,400 | 4,300 |
| Books | 8,000 | 12,000 |
| 9% Investments | 25,000 | 25,000 |
Prepare Income and Expenditure Account of the Club for the year ended 31st March, 2019 and its Balance Sheet as at 31st March, 2019.
Here I have prepared the Income & Expenditure A/c and Balance Sheet of Bharti Club:
Income & Expenditure A/c for the year ended 31st March 2019
Balance Sheet as on 31st March 2019
Working Note 1: Calculation of Subscriptions
Working Note 2: Calculation of Capital Fund
We prepare the previous year’s balance sheet of Bharti Club to identify the capital.
Balance Sheet as on 31st March 2018