Receipt and Payment Account of Maitrey Sports Club Showed that Rs 68,500 Were Received By Way of Subscriptions - Bzziii.com

Receipt and Payment Account of Maitrey Sports Club showed that Rs 68,500 were received by way of subscriptions for the year ended on March 31, 2014.

The additional information was as under:

1. Subscription Outstanding as on March 31, 2013 were Rs 6,500,

2. Subscription received in advance as on March 31, 2013 were Rs 4,100,

3. Subscription Outstanding as on March 31, 2014 were Rs 5,400,

4. Subscription received in advance as on March 31, 2014 were Rs 2,500.

Show how that above information would appear in the final accounts for the year ended on March 31, 2017 of Maitrey Sports Club.




Books of Maitrey Sport Club
Income and Expenditure Account
as on 31st March,2017
Expenditure
Amount
(Rs.)
Income
Amount
(Rs.)
Subscription68,500
Less:Outstanding for 31st march 2015(6,500)
62,000
Add:Advanced for march 20164,100
Add:Outstanding for 31st march 20175,400
Less:Advanced on 31st March 2017(2,500)69,000
Balance sheet
as on March 31st,2016
Liabilities
Amount
(Rs.)
Assets
Amount
(Rs.)
Advanced Subscription4,100Subscription Outstanding6,500
Balance sheet
as on March 31st,2017

Liabilities

Amount
(Rs.)

Assets

Amount
(Rs.)

Advanced Subscription2,500Subscription Outstanding5,400




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