Balance Sheet as on March 31, 2017 Liabilities Amount Assets Amount (Rs.) (Rs.) Outstanding Salary 6,000 Cash 15,000 Capital Fund 6,94,000 Outstanding subscription 18,000 Library Books 30,000 Furniture 37,000 Land and Building 6,00,000 7,00,000 7,00,000 Additional Information: The Club had 500 members each paying an annual subscription of Rs. 150. On 31.3.2016 salaries outstanding amounted to Rs. 1,200 and salaries paid included Rs. 6,000 for the year 2015-16. Provide 5% depreciation on Land and Building. Receipt and Payment Account of Maitrey Sports Club showed that Rs. 68,500 were received by way of subscriptions for the year ended on March 31, 2017. The additional information was as under: Subscription Outstanding as on March 31, 2016 were Rs. 6,500, Subscription received in advance as on March 31, 2016 were Rs. 4,100, Subscription Outstanding as on March 31, 2017 were Rs. 5,400, Subscription received in advance as on March 31, 2017 were Rs. 2,500. Show how that above information would appear in the final accounts for the year ended on March 31, 2017 of Maitrey Sports Club.
Balance Sheet as on March 31, 2017 Liabilities Amount Assets Amount (Rs.) (Rs.) Outstanding Salary 6,000 Cash 15,000 Capital Fund 6,94,000 Outstanding subscription 18,000 Library Books 30,000 Furniture 37,000 Land and Building 6,00,000 7,00,000 7,00,000 Additional Information: The Club had 500 members each paying an annual subscription of Rs. 150. On 31.3.2016 salaries outstanding amounted to Rs. 1,200 and salaries paid included Rs. 6,000 for the year 2015-16. Provide 5% depreciation on Land and Building. Receipt and Payment Account of Maitrey Sports Club showed that Rs. 68,500 were received by way of subscriptions for the year ended on March 31, 2017. The additional information was as under: Subscription Outstanding as on March 31, 2016 were Rs. 6,500, Subscription received in advance as on March 31, 2016 were Rs. 4,100, Subscription Outstanding as on March 31, 2017 were Rs. 5,400, Subscription received in advance as on March 31, 2017 were Rs. 2,500. Show how that above information would appear in the final accounts for the year ended on March 31, 2017 of Maitrey Sports Club.