Financial Accounting

• 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 ...