Given below the Balance Sheet as on 01.02.2010 and Receipts and Payments Account for the year ending 31.03.2011 of Samat Sports Club, Solapur, Prepare Income and Expenditure Account for year ending on 31.03.2011 and the Balance Sheet as on that date Balance Sheet as on 1.04.2010 Liabilities Capital Fund Building Fund Subscription Received In advance for the year 2010-2011 Amount 4,62,500 2,50,000 4,500 7,17,000 Assets Play ground Furniture Stock of Sports Material Building Fund Investment Cash in hand Cash at Bank Outstanding subscriptions Amount 4,00,000 18,000 22,000 2,50,000 1,600 8,400 17,000 7,17,000 Dr Receipts and Payments Account for the year ending 31.03.2011 Cr Receipts To Balance b/d Cash in hand Cash at Bank To Subscription To Admission Fees To Donations To Sundry Receipts To Interest on Investment of Building Fund Amount 1,600 8,400 Amount 10,000 1,00,900 6,500 28,000 1,350 9,000 1,55,750 Payments By Sports Material Purchased By Salaries and Wages By Office rent By Telephone Charges By Printing and Stationery By Balance c/d Cash in hand Cash at Bank Amount 6,000 11,050 Amount 26,000 43,500 63,000 3,900 2,300 17,050 1,55,750 1) Stock of sports material in hand on 31.03.2011 was Rs.24,000 2) Admission Fees and Donations are to be capitalized 3) Subscription received during the year included Rs.17,000 for previous year and Rs.5,000 for next year. Current year’s subscription Rs.14,500 is outstanding.
