- 2. ADC Sports and Social Club’s financial year ends on 31st March. The assets and liabilities of the club at dates stated were as follows:
As at 31.3.20X1 As at 31.3.20X2 Rs Rs Equipment 25,000 28,000 Subscriptions in arrears 2,000 1,800 Subscription in advance 1,300 1,100 Creditors for Bar stocks 3,500 4,300 Bar stocks 8,000 6,000 Electricity owing 1,050 1,400 Raffle (Lottery) Fund 500 ? Bank balance 7,230 ?
In the year to 31st March 20X2, the cash receipts were:
Subscriptions (including Rs 600 of arrears from previous year) 21,000 Bar takings 41,000 Annual dinner/dance sale of tickets 24,000 Sale of Raffle tickets 1,800
In the same period the following payments have been made:
Affiliation fees (for ...