Q.3 From the following Receipts and Payment Accounts of XYZ.

a)You are required to prepare Income and Expenditure Account for the year ended 31st Dec.2018.

Dr. Cr.

Receipts	Amount(OMR)	Payments	Amount(OMR)
Balance b/d Entrance fee Subscriptions: 200:3,000 200:13,000 200:1,000--------------------- Sale of furniture Sale of news papers Rent of Hall Proceeds from entertainment Special subscription for Governors Party	16,000 5,200 17,000 1,500 500 2,250 6,250 2,500 51,200	Salaries Addition to library Payment to creditors Repairs Electric fittings Printing &stationery Miscellaneous expenses By Balance c/d	6,500 14,500 1,400 600 9,500 2,000 400 16,300 51,200

b) How are Specific donations treated while preparing final accounts of a Not-For-Profit Organization