• 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 ...

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