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Receipts & Payments Account
for the year ended 31 March 2019
st
Dr. Cr.
Receipts Amount Payments Amount
` `
To Balance b/d By Rent 25,000
Cash in Hand 3,000 By Stationery 3,000
Cash at Bank 8,000 By Salaries 22,000
To Entrance fees 28,000 By Furniture Repairs 1,800
To Subscriptions By Honorarium to Secretary 16,000
2017 - 18 2,000 By Miscellaneous Expenses 2,000
2018 - 19 45,000 By Balance c/d
2019 - 20 3,000 50,000 Cash in Hand 8,200
To Miscellaneous receipts 5,000 Cash at Bank 16,000
94,000 94,000
Additional Information :
1) Rent for last two months ` 5,000 is still due.
2) Stationery Expenses payable on 31 March 2019 were ` 450.
st
3) Outstanding Subscription for 2018 - 19 was ` 3,000.
4) Entrance fees should be capitalised.
5) Depreciate Furniture @ 10 % p.a.
You are required to prepare Income and Expenditure Account for the year ended 31
st
March 2019 and a Balance Sheet as on that date.
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