From the following Receipts and Payments Account and the additional information pertaining to Janakpuri Football Club,

From the following Receipts and Payments Account and the additional information pertaining to Janakpuri Football Club, prepare Income and Expenditure Account for the year ended 31st March, 2012 and Balance Sheet as at that date:
A Sample of Receipts and Payments Account
Additional information:
(i) Subscriptions received include Rs 9,000 outstanding subscriptions for the year 2010-2011. Subscriptions for the year 2011-2012 amounting to Rs 16,000 are still outstanding. Some members have paid subscriptions for the year 2012-2013 amounting to Rs 8,000 which is included in the subscriptions received.
(ii) Face value of 12% Investments on 31st March 2011 was Rs 15,000 (cost price, Rs 12,000)
(iii) Book value of furniture sold on 1 April, 2011 was Rs 12,000, depreciation being 20% p.a. Provide depreciation on new furniture at the same rate.
(iv) Telephone bill for one quarter is outstanding, the amount outstanding being Rs 300. The charge for each quarter is the same both for 2010-2011 and 2011-2012.
(v) Un-presented cheques for periodicals being Rs 4,000 for 2010-2011 and Rs 12,000 for 2011-2012
(v) Stock of balls with the club on 31st March, 2012 amounted to Rs 6,000.
Solution:
In the Books of Janakpuri Football Club:
A Sample of Income and Ependiture Account
A Sample Balance Sheet

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