OMTEX CLASSES: ABC Sports and Social Club’s financial year ends on 31st March. The assets and liabilities of the club at dates stated were as follows:

Note:

Subscription – arrears of previous year written off during the year, Rs 1,400.

Prepare:

(i) Bar Trading Account and

(ii) Income and Expenditure Account for the year ended 31st March, 2011 and Balance Sheet as at that date.

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