16 April 2013
The following balances are obtained from the books of Jaipur cricket club as on 31 march. 2001 and 31 march 2002 Particular 31 mar 2001 31 mar 2002 Building 80000 85500 Furniture 40000 30600 Advance subscription 1500 1000 Prepaid expenses 800 1000 Outstanding expenses 3000 1200 Outstanding subscription 3000 5000 Sport equipment 24000 21600 Investment - 12000 Books 15000 16200 Cash 16000 17100
Consider the following information relevant to the year 2001-2002 1) Depreciation provided for the year on building @5%. On furniture and books@10%,sports equipment@20%. 2) Some old furniture standing in the books rs 6000 on 31st march 2001 was sold for Rs 4000 3) The club had 300 members on 31st march 2002 as per register of members, no fresh members were admitted during the year but 10 members left the club on 1 oct 2001. 4) Subscription payable – Rs 15 per month 5) Entrance fees received for Rs 5000 has been capitalized. You are require to show the receipt and payment account and the income and expenditure account for the year ended 31st march 2012.
17 April 2013
However i try to solve the problem with the assumptions based on the information provided still then also it not matching that meas there may be some mistake while providing question.
CAclubindia
