The following is the Balance Sheet and Receipts and payments account of Karawali Sports club, Karwar.
(a) Subscription outstanding for the year 2017-18 is Rs. 5,000.
(b) Subscriptions received in advance for 2018-19 Rs. 2,000.
(c) Depreciate sports materials by Rs. 8,000
(d) Outstanding salary for 2017-18 Rs. 4,000
(e) Capitalize, 1/2 of the entrance fees.
Prepare:
(i) Income and expenditure account for the year ended 31.3.2018
(ii) Balance Sheet as on 31.3.2018.
