How will you deal with the following items while preparing income and expenditure account for the year ending March 2016 in resp

How will you deal with the following items while preparing income and expenditure account for the year ending March 2016 in respect of XYZ Club:

Locker rent received during the year 2015 – 16 Rs. 75,000.

1 Answer

Locker rent received	75000
Add: Outstanding on 31.3.16	8000
"Advance on 31.3.15"	1000
Less: outstanding on 31.3.2015	6000
"Advance on 31.3.2016	5000
Amount to be credited to income & expenditure a/c	73000

How will you deal with the following items while preparing income and expenditure account for the year ending March 2016 in respect of XYZ Club: