7. Prepare Receipts and Payments account from

the following Income and Expenditure account

and the supplementary notes supplied by a

Rotary Club :

Income and Expenditure account for the year

ended 31-12-2011 :

` `

To Salaries 3,500 By donations 2,000

To Rent 3,000 By entrance

To sundry expenses 750 fees (one third) 1,000

To depreciation 300 By subscription 4,550

To surplus for the year 2,500 By Interest 2,500

10,050 10,050

Additional informations :

(i) Salaries paid in advance to menial staff-

2010 : ` 300 and 2011 : ` 400.

(ii) Salaries outstanding to the cashier

Subscription for 2010 in arrear ` 350,

` 325 of which were received in 2011.

(iv) Subscription for 2011 unpaid ` 500.

(v) Subscriptions paid in advance in 2010

and 2011 amounted to ` 400 and ` 250

respectively.

(vi) Sundry assets at the end of 2010 and

2011 stood after depreciation at ` 3,500

and ` 7,800 respectively.

(vii) Balance of cash as on 1st January, 2011

was ` 3,150.

(viii) Legacies at January 1 and December

31 were respectively ` 7,000 and

` 9,800.

J-51635(TR) 8