CBSE 2022 · Region 4 · Set 1 · Q7

From the following Receipts and Payments Account of Adarsh Club for the year ended 31st March, $\displaystyle 2022$, prepare an Income and Expenditure Account for the year ended 31st March, $\displaystyle 2022$ : Receipts and Payments Account of Adarsh Club for the year ended 31st March, $\displaystyle 2022$ Amount Amount Receipts Payments < < Balance b/d Salaries $\displaystyle 49,000$ Cash > $\displaystyle 20,000$ Printing and Stationery $\displaystyle 32,000$ Bank $\displaystyle 67,500$ $\displaystyle 87,500$ Secretary's Honorarium $\displaystyle 25,000$ Subscriptions : $\displaystyle 6$% Fixed Deposit $\displaystyle 1$ $\displaystyle 2020$ $\displaystyle 21$ $\displaystyle 15,000$ on $\displaystyle 1.1.2022$ $\displaystyle 2,70,000$ $\displaystyle 1$ $\displaystyle 2021$ $\displaystyle 22$ $\displaystyle 2,00,000$ Balance c/d $\displaystyle 1$ $\displaystyle 2022$ $\displaystyle 23$ $\displaystyle 30,000$ $\displaystyle 2,45,000$ Cash $\displaystyle 26,500$ Sale of old furniture Bank $\displaystyle 50,000$ $\displaystyle 76,500$ (Book value ₹ $\displaystyle 10,000$) $\displaystyle 8,500$ Sale of old newspapers $\displaystyle 2,500$ Hire of ground $\displaystyle 47,500$ Locker Rent $\displaystyle 11,500$ Donations for Sports $\displaystyle 50,000$ fund $\displaystyle 4,52,500$ $\displaystyle 4,52,500$ The club has $\displaystyle 1,500$ members each paying an annual subscription of ₹ 150.