Question

From the following information of Jubily Arts Club given below, prepare the Receipts and Payments account for the year ended 31st December, 2012 and balance it.

	₹		₹
Cash balance on 1/1/2012	3500	Salaries	4000
Entrance fees	6000	Furniture	14000
General expense	2800	Rent received	2000
Legacy	3500	Sports	5500
Donations (specific)	5000	expenses subscription	12000

Answer 1

Receipts and Payments a/c 

for the year ended 31/1 2/2012

Receipts	Amt.(₹)	Payments	Amt.(₹)
Balance Cash	3500	General expenses	2800
Entrance fees	6000	Salaries	4000
Legacy	3500	Furniture	14000
Donations (Specific)	5000	Sports expenses	5500
Rent received	2000	Balance cash	5700
Subscription	12000
	32000		32000