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The opening cash Balance as on 1st January, 2018 of Ranu Club was 8,000. Prepare Receipts and Payments Account for the year ended on 31st December, 2018 from the following transactions - (i) Subscription received for current year * 35,000 ; (ii) Subscription received for next year in advance * 1,000; (iii) Life Membership Fees * 6,000 ; (iv) Investment made *25,000 ; (v) Bought Furniture * 3,000 ; (vi) Bought sports materials for 3,000: (vii) General Expenses paid ₹ 5.500; (viii) y Expenses Outstanding 300; (ix) Depreciation to be charged @ 10% on furniture. [Ans. Balance of Receipts & Payments A/c 13,500]

Posted by Palak Ahuja 3 years, 2 months ago

CBSE > Class 12 > Accountancy

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