Following is the Receipts and Payment Account of Gopal Education Society as


Following is the Receipts and Payment Account of Gopal Education Society
as on 31st March ,2019 : 6
RECEIPTS AND PAYMENTS ACCOUNT
Receipts Amount
(Rs)
Payments Amount
(Rs)
To Balance bd
5,000
1,250
500
53,750
1,750
3,750
3,375
13,125
82,500
Additional Information :
(i) On 1st April , 2018 , the society has books worth Rs 8,750 , Investments
Rs 15,000 and Furniture Rs 5,000.
(ii) Subscriptions outstanding on 1st April ,2018 was Rs 875 and on
31st March ,2019 was Rs 1,000.
(iii) Creditors for stationery on 1st April , 2018 was Rs 375.
(iv) Wages outstanding was Rs 500 and outstanding bills for repairs was Rs
750 on 31st March , 2019 .
(v) Depreciation is to be charged @ 20% on Building and 10% on books
including purchase of books .
Prepare Income and Expenditure Account.​


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