|To Balance b/d||85,000||By Doctors and Coaches Honorarium||25,000|
|To Subscription||68,500||By Medicines||15,500|
|To Entrance Fees||25,000||By Medical Equipment||30,000|
|To Life Membership Fees||30,000||By General Expenses||8,000|
|To Donations for tournament fund||20,000||By Furniture||20,000|
|To Sale of old Medical equipment (Book Value `15,000)||5,000||By Newspaper||8,000|
|To Miscellaneous Receipts||15,000||By Rent, Rates and Taxes||5,000|
|By Tournament expenses||60,000|
|By Balance c/d||77,000|
Additional Information: Following opening balances appeared in the books on 1st April, 2019.
(a) Tournament fund Rs. 15,000.
(b) Medical Equipment Rs. 1,50,000.
(c) Outstanding Subscription was Rs. 8,000 and Advance Subscription Rs. 5,000 (for 2019-20).
During the year 2019-20 Depreciation on medical equipment was Rs. 25,000. There were 600 members each paying an annual subscription of Rs. 100.
In the books of Krish Fitness and Wellness Club
Income & Expenditure A/c for the year ended 31 March 2020
1.Calculation of Tournament Fund
2. Calculation of Loss on Sale of Medical Equipment