Prepare Income and Expenditure Account for the year ended 31st March, 2019 from the following
RECEIPTS AND PAYMENTS ACCOUNT
for the year ended 31st March, 2019
| Receipts | (Rs.) | Payments | (Rs.) |
| To Balance b/d (cash) | 1,80,000 | By Salaries | 4,80,000 |
| To Subscriptions | 9,00,000 | By Rent | 50,000 |
| To Sale of Investments | 2,00,000 | By Stationery | 20,000 |
| To Sale of Old Furniture (Book Value ₹ 40,000) | 30,000 | By Defence Bonds | 3,00,000 |
| To Donations | 10,000 | By Furniture | 2,00,000 |
| By Bicycles | 30,000 | ||
| By Balance c/d (Cash) | 2,40,000 | ||
| 13,20,000 | 13,20,000 |
Income and Expenditure Account
for the year ended 31st March, 2019
| Expenditure | Amount (Rs.) | Income | Amount (Rs.) |
| Salaries | 4,80,000 | Subscriptions | 9,00,000 |
| Rent | 50,000 | Donation | 10,000 |
| Stationery | 20,000 | ||
| Loss on Sale of Old Furniture | 10,000 | ||
| Surplus (Balancing Figure) | 3,50,000 | ||
| 9,10,000 | 9,10,000 |