The accountant of the club furnishes the following particulars of the Club to you: Receipts and Payments account for the year ending 31" March, 2019 Amount (RO) Receipts Balance b/d Amount (RO) 5,000 15,000 Payments Furniture Salary: 2017-2018 Subscriptions: 2017-2018 2,000 1,000 2018-2019 24,000 26,000 2018-2019 5,000 6,000 Entrance fees 2.800 Internet charges 100 1,000 Newspapers 500 Locker rent Life membership fees 1.200 Miscellaneous expenses 1,000 Government grant 10,000 Investment in bonds 15,000 Land 25,000 Computers 1.000 Balance c/d 2,400 56,000 56,000 The following balances as on 31" March 2018 is provided to you: Advance locker rent received - RO 200; subscriptions received in advance RO 1,500; Outstanding salary RO 2000; Outstanding subscription RO 3,000: Loan RO 10,000; Prepaid miscellaneous expenses - RO 3,000 cash in hand RO 15,000; Building RO 40,000. The Life membership fee is to be capitalized. You are required to: c. Prepare Income and Expenditure account and; d. Balance Sheet as on 31" March, 2019. (3 marks) (3 marks) (8+6+3+3=Total 20 marks) The Life membership fee is to be capitalized. You are required to: c. Prepare Income and Expenditure account and; d. Balance Sheet as on 31" March, 2019. (3 marks) (3 marks) (8+6+3+3=Total 20 marks)