As at March 31, 2017 the Following Balances Have Been Extracted From the Books of the Indian Chartered Accountants Recreation Club - Bzziii.com

As at March 31, 2017 the following balances have been extracted from the books of the Indian Chartered Accountants Recreation Club and you are asked to prepare (1) Trading Account for ascertaining gross profit derived from running restaurant and dining room and (2) Income and Expenditure Account for the year ended March 31, 2017 (3) and a Balance Sheet as at that date.

Debit Balances	Amount (Rs.)	Credit Balances	Amount (Rs.)
Stock-in-hand	1,170	Receipts Dining Room	87,660
Purchases	24,660	Subscriptions	9,450
Dining Room	32,370	Billiard’s Receipts	7,300
Rent	10,470	Sunday Receipts	410
Wages	18,690	Interest on Fixed Deposit	270
Repairs and Renewals	5,400	Sundry Creditors	5310
Fuel and Light	5,280	Grant from Institute (permanent)	42,000
Misc. Expenses	4,050	Income and Exp. A/c (1.4.16)	1,380
Cash in hand	560	Suspense A/c (See note)	60
Cash at bank	2,760
Fixed Deposit	8,500
Sundry Debtors	2,250
China glass, cutlery and linen	600
Billiard Table	2,070
Fixtures and Fittings	870
Furniture	4,140
Club Premises	30,000
	1,53,840		1,53,840

On March 31, 2016 stock of restaurant consisted of ₹ 900 and ₹ 60 respectively. Provide depreciations ₹ 60 on fixtures and fittings, ₹ 390 on billiard table and ₹ 560 on furniture.

Books of Indian Chartered Accountants Recreation Club Restaurant

Trading Account

Particulars	Amount  (Rs.)	Particulars	Amount (Rs.)
Opening Stock	1,170	Receipts from Dining Room	87,660
Purchases	24,660	Closing Stock	960
Dining Room Exp.	32,370
Profit from Restaurant	30,420
	88,620		88,620

Income and Expenditure Account 
as on March 31, 2017

Expenditure		Amount  (Rs.)	Income	Amount  (Rs.)
Rent	10,470		Subscriptions	9,450
Wages	18,690		Sundry Receipts	410
Repairs an Renewals	5,400		Interest on Fixed Deposits	270
Fuel and Light	5,280		Profit from Restaurant	30,420
Misc. Expenses	4,050		Billiards Receipts	7,300
Depreciation on
Fixtures and Fittings	60
Billiards Table	390
Furniture	560	1,010
Surplus (Excess of Income over Expenditure)	2,950
		47,850		47,850

Balance Sheet
 as on March 31, 2017

Liabilities		Amount₹	Assets		Amount₹
Sundry Creditors	5,310		Cash in Hand		560
Grant from Institute	42,000		Cash at Bank		2,760
Suspense	60		Fixed Deposit		8,500
Capital Fund (Income and Exp. A/cas on Apr.01, 2016)	1,380		Sundry Debtors		2,250
Add: Surplus	2,950	4,330	China Glass, Cutlery and Linen		600
			Billiards Table	2,070
			Less: Depreciation	(390)	1,680
			Fixture and Fittings	870
			Less: Depreciation	(60)	810
			Furniture	4,140
			Less: Depreciation	(560)	3,580
			Club Premises		30,000
			Stock of Restaurant		960
		51,700			51,700

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Accounting for Non-for-Profit Organisation
Class 12 Accountancy