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).
