The following is the Receipts and Payments account of the East Bengal Club for the ar ended \( 31^{\text {st }} \) Dec 2004 .
\begin{tabular}{|l|r|l|r|}
\hline \multicolumn{1}{|c|}{ Receipts } & \multicolumn{1}{|c|}{ Amount Rs. } & \multicolumn{1}{|c|}{ Payments } & Amount Rs. \\
\hline Balance \( (1 / 1 / 2004) \) & 470 & Salaries & 3,500 \\
Entrance fees & 300 & Wages of grounds & 2,500 \\
Subscription & 7,900 & \multicolumn{2}{|c|}{ men } & 300 \\
Donations & 2,500 & Printing & 1,200 \\
Proceeds from & & Repairs & 150 \\
entertainment & 1,300 & Postage & 190 \\
Interest on investmet & 300 & General expense & 400 \\
Sundries & 75 & Furniture \( (1 / 7 / 2004) \) & 2,000 \\
& & Games materials & 2,605 \\
\hline & Balance at bank & \\
\hline
\end{tabular}
Prepare income and expenditure account of the club for the year ended \( 31^{\text {st }} \) Dec 2004 id its Balance Sheet as on that date taking into account the following additional formation.
1. Subscriptions received include Rs. 400 for 2003 , but Rs. 230 is still outstanding.
2. Salaries Rs. 100 referred to 2003 and Rs. 200 is still outstanding.
3. Interest accrued on investments Rs. 110 .
4. Depreciate club premises by \( 5 \% \) and furniture by \( 10 \% \). Games materials were valued at Rs. 4,000 on \( 31^{\text {st }} \) Dec 2004 .
5. Wages of grounds men Rs. 150 related to 2003 , still owing Rs. 250 , printing etc. outstanding at \( 31^{\text {st }} \) Dec. 2004 Rs. 75 .
6. One half of the entrance fees is to be capitalised, \( 1 / 5^{\text {th }} \) of donation to be treated as income.
7. On \( 1^{\text {st }} \) Jan. 2004 , the club owned premises Rs. 30,000 , Investments Rs. 6,000 , games materials Rs. 2,800 and furniture Rs. 3,500 .
