As at March 31, 2015 the following balance have been extrated from the books of the Indian Chartered Accountants Recreation Club and you are asked to prepare (1) Trading account for ascertaining gross profit derived from running restaurant and dining room and (2) income and expenditure account for the year ended March 31, 2015 (3) and a balance sheet as at the date:
On March 32, 2015 stock of restaurant consisted of Rs. 900 and Rs. 60 respectively. Provide Depreciations Rs. 60 on Fixtures, Rs.390 on Billiard table and Rs. 560 on Furniture.
