Illustration 48: The Ranchi cricket club has given below its Receipt and Payment A/c for the year ended 31st December 2013. Dr. Cr. Amount() Receipt & Payment Account for the year ended 31st December 2013 Date Receipts Amount() Date Payments 2013 2013 1st Jan Balance b/d - cash 56,000 1st Jan to Groundman's wages Balance b/d-bank 35,000 31st Dec Ground rent Balance b/d - F.D. 75,000 Repairs to pavilion 1st Jan to Subscriptions 4,15,000 Cricket equipment 31st Dec Bar takings 4,25,000 8% Govt. securities Surplus on tournaments 38,800 Bar purchases Bank interest 3,500 Sundry expenses Donations 25,000 Insurance 31st Dec Balance c/d-Cash Balance c/d-Bank Balance c/d-F.D. 10.73,300 3,00,000 1,50,000 12,000 40,000 1,00,000 3,05,000 7.800 3,500 42,000 13,000 1,00,000 10.73,300 Additional information: Pavilion was the only asset having a book value of 34,50,000 (cost 7,50,000 less depreciation 3,00,000). Depreciation for the year amounted to 325,000. Expenditure on cricket equipment is to be written off in the year in which incurred. Other assets and liabilities were as follows: 030 31st December 2012 2013 Bar stocks 15,000 25,000 Creditors for Bar purchases 46,000 67,000 Creditors for sundry expenses 900 1200 Insurance in advance 750 600 Rent owing 35,000 40,000 The club does not wish to take any credit for subscriptions. In December 2013, the club decided to set up a special fund of 100,000 as endowment for the best player award. This was invested in 8% Govt. securities as shown above. Prepare (a) Statement showing Capital fund as on 31-12-2012. (b) Income and expenditure A/c for the year ended 31-12-2013 and (c) the Balance Sheet as on that date