17. From the following Receipts and Payments account of a Club,


17. From the following Receipts and Payments account of a Club, prepare
Income & Expenditure Account for the year ended 31st March, 2019 and a BalanceSheet as at that date :ReceiptsTo Balance bd2,4008,10062,70015,40012,3007004001,80012,50019,60062,700Subscriptions include 33,200 for the last year, rent include 900 paid for the lastyear. Subscriptions outstanding of the current year are 34,500. Rent outstanding forthe month of March, 2019 is 1,000 and a payment for stationery is also due for 250.On 1-4-2018, Club had land valued 50,000 and furniture valued at $15,000.[Ans. Opening Capital Fund 31,23,300; Surplus *15,150; Balance Sheet Total*1,48,400.]​


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