From the following Receipts and Payments Account of Ziya Educational Society for the year ended 31st March, $\displaystyle 2021$, prepare Income and Expenditure Account for the year ended 31st March, $\displaystyle 2021$ : Receipts and Payments Account of Ziya Educational Society for the year ended 31st March, $\displaystyle 2021$ Amount Amount Receipts Payments < < Balance b/d $\displaystyle 25,500$ Honorarium $\displaystyle 2,000$ Subscriptions $\displaystyle 34,000$ Computer $\displaystyle 10,000$ Sale of old newspapers $\displaystyle 700$ Repairs $\displaystyle 1,000$ Interest on Investments $\displaystyle 2,800$ Salaries $\displaystyle 13,000$ Sundry Expenses $\displaystyle 1,000$ Balance c/d $\displaystyle 36,000$ $\displaystyle 63,000$ $\displaystyle 63,000$ Additional Information : (i) Subscriptions outstanding on 1st April, $\displaystyle 2020$ were ₹ $\displaystyle 900$ and Subscriptions outstanding on 31st March, $\displaystyle 2021$ were ₹ $\displaystyle 1$,900. (ii) Salaries outstanding on 31st March, $\displaystyle 2021$ were ₹ $\displaystyle 2$,000.

Dr. Income and Expenditure Account for the year ended 31st March, $\displaystyle 2021$ Cr. Amount Amount Expenditure Income (₹) (₹) To Honorarium ½ $\displaystyle 2,000$ By Subscription $\displaystyle 34,000$ To Repairs ½ $\displaystyle 1,000$ (+) Current year O/s $\displaystyle 1,900$ To Salaries $\displaystyle 13,000$ $\displaystyle 15,000$ (–) Previous year To Add O/s $\displaystyle 2,000$ $\displaystyle 1$ $\displaystyle 1,000$ $\displaystyle 35,000$ O/s $\displaystyle 900$ $\displaystyle 1$ To Sundry expenses ½ $\displaystyle 700$ By Sale of old To Excess of Income over $\displaystyle 19,500$ newspapers ½ Expenditure : Surplus ½ By Interest on $\displaystyle 2,800$ investment ½ $\displaystyle 38,500$ $\displaystyle 38,500$ PART B OPTION $\displaystyle 1$ (Analysis of Financial Statements)