Bengal Cricket Club was Inaugurated On 1st April, 2018. It Had the Following Receipts and Payments During the Year

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Bengal Cricket Club was inaugurated on 1st April, 2018. It had the following Receipts and Payments during the year ended 31st March, 2019:

Receipts: Entrance Fees ₹ 10,000; Subscriptions ₹ 60,000; Donations ₹ 10,000.Payments: Rent ₹ 15,000; Postages ₹ 1,000; Newspapers and Magazines ₹ 8,000; Investments ₹ 30,000; Stationery ₹ 4,000; Entertainment Expenses ₹ 3,000; Miscellaneous Expenses ₹ 2,000.Show the Receipts and Payments Account for the year ended 31st March, 2019.






In the books of Bengal Cricket Club

Receipts and Payments A/c for the year ended 31st March, 2019

ReceiptsAmount (₹)PaymentsAmount (₹)
To balance b/d4,390By Electricity Charges3,440
To Subscriptions37,600By Taxes Paid490
To Donations8,000By Salaries21,500
To Entrance Fees4,300By Honorarium to Secretary2,500
To Rent Received for Club Halls5,250By Printing and Stationery350
To Interest Received on Investments2,950By Petty Cash Expenses900
  By Insurance Premium Paid310
  By balance c/d33,000
 62,490 62,490

Chapter-1 Financial Statements of Not for Profit Organisations-TS Grewal



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