+1 vote
249k views
in Accounts by (64.6k points)

Following is the Receipt and Payment Account of Indian Sports Club, prepared Income and Expenditure Account, Balance Sheet as on December 31, 2017: Receipts and Payments Account for the year ending December 31, 2017

Other Information: 

Subscription outstanding was on December 31, 2016, Rs. 1,200 and Rs. 3,200 on December 31, 2017. Locker rent outstanding on December 31, 2018 Rs. 250. Salary outstanding on December 31,2017 Rs. 1,000. On January 1,2017, club has Building Rs. 36,000, furniture Rs. 12,000, Sports equipments Rs. 17,500. Depreciation charged on these items @ 10% (including Purchase).

1 Answer

+2 votes
by (59.6k points)
selected by
 
Best answer

Balance sheet

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...