Following is the summary of cash transactions of the Royal Club for the year ended 31st March, 2018:
In the beginning of the year, the club possessed Books of Rs. 2,00,000 and Furniture of Rs. 85,000. Subscriptions in arrears in the beginning of the year amounted to Rs. 3,500 and at the end of the year Rs. 4,500 and six months Rent Rs 6,000 was due both in the beginning of the year and at the end of the year. Prepare Income and Expenditure Account of the club for the year ended 31st March, 2018 and ist Balance Sheet as at that date after writing *** Rs. 5,000 and Rs. 11,300 on Furniture and books respectively.
