From the following receipts and Payments \( A / C \) and adjustments given below it, prepare an Income \& Expenditure A/C for the year ended \( 31^{\text {st }} \) March, 2018 and a Balance Sheet as on that date for the Evershine club....
[12]
5
[P. O. T.]
2JA20505
Adjustment:
(1) On \( 1^{\text {st }} \) April, 2017 the club owned a Building worth Rs. 60,000 /- furniture Rs. 20,000 , Investments \( (a), 2 \% \). Rs. 10,000/- Stock of stationery Rs. 600/-
(2) Depreciate Buildings and furniture (a) \( 5 \% \) \& 10\% p.a.
(3) The Club has 600 members each paying an annual subscription of Rs. 50.
(4) Provide for outstanding salaries Rs. 260/-
(5) \( 50 \% \) of admission fees \& whole amount of the donations are to be capatalized.
(6) Stock of Stationary on 31-03-2018 was valued at Rs. 120/-
(7) Capital fund as on 01-04-2017 was Rs. 1,18,600/-
