How Are the Following Items Dealt With While Preparing Income and Expenditure Account of A Club For the Year Ended 31st March, 2019? - T.S. Grewal's Accountancy Class 12

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How are the following items dealt with while preparing Income and Expenditure Account of a club for the year ended 31st March, 2019? 

 1st April, 2018
(₹)		31st March, 2019 (₹)
Outstanding Locker Rent4,6006,300
Advance Locker Rent3,0004,000




Income and Expenditure Account 
for the year ended 31st March, 2019

Expenditure Amount (Rs.)Income Amount (Rs.)
  Locker Rent Received52,000
  Add: Outstanding at the end6,300
  Add: Advance in the beginning3,000
  Less: Outstanding in the beginning4,600
  Less: Advance at the end4,00052,700

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



Location: India

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