The treasurer of NY social club prepared the following
receipts and payments accounts for the year ended 30th September,
2009
|
Opening balances October
01,2008
Current A/c
Deposit A/c
Cash in hand
2009:
Subscription
Restaurant sales
Legacy from former members
Bank deposit interest
Other sales
|
20,000
21,000
10,000
|
51,000
14,000
23,000
22,000
4,500
4,500
119,500
|
2009:
Payment for restaurant purchase
Rent and rates
Payment to entertainers
Printing and stationary
General expenses
Restaurant wages
Closing balances Sep
30,2009
Current A/c
Deposit A/c
Cash in hand
|
20,000
35,000
5,000
|
30,000
10,000
3,500
2000
5,700
8,300
60,000
119,500
|
The following information is made available to you
October
1, 2008 September 30, 2009
Restaurant stocks 1,630 10,000
Subscription in arrears 770 620
Subscription in advance 250 310
Creditors for restaurant purchases 10,000 1,150
Rent and rates accrued 750 820
- Restaurant
sales of 2,000 on the evening of 30th September 2009 have been retained in
the restaurant manager’s office and are not included in the above receipts
and payment account.
2. The committee has agreed that only the income
from the legacy should be used
for general purposes. The proceed of the legacy have been placed on deposit
account.
Required :
a) A
trading account to show the Profit / Loss from the restaurant.
b)
Income & Expenditure account of the club for the year ended September 30,
2009.
c) A
Balance Sheet as on date September 30, 2009.