Balance sheet of Karaikudi sports club as on 31 stMarch, 2019 Liabilities Rs Rs Assets Rs Tournament fund 90,000   Tournament fund investment  90,000 Add: Interest received         on tournament fund         investment 9,000       Add: Donation to         to 10,000         1,09,000       Less: Tournament         expenses 60,000 49,000    

Dr Income and Expenditure Account for the year ended 31^st March, 2019 Cr

Expenditure	Rs	Rs	Income	Rs
To Sports materials
consumed:
Opening stock	16,000
Add: Purchased in the current year	84,000
	1,00,000
Less: Closing stock	10,000	90,000

Balance Sheet as on 31^st March, 2019

Liabilities	Rs	Assets	Rs
		Stock of Sports materials	10,000

Dr Income and Expenditure Account for the year ended 31^st March, 2019 Cr

Expenditure	Rs	Income	Rs	Rs
		By Subscription	50,000
		Add:
		Outstanding for the year
		2017-2018	30,000	80,000

Total subscription due for current year (2018 - 19) (\(200 \times 400\))	= 80,000
Less : Amount received for the current year (2018-19)	= 50, 000
Outstanding subscription for the current year (2018 - 19)	Rs. 3000

Balance sheet as on 31^st March, 2019

Liabilities	Rs	Assets	Rs	Rs
Subscription		Outstanding subscription
rceived in advance		2017 - 2018	2,000
for the year 2019-20	5,000	2018 - 2019	30,000	32,000

In the books of kurunji sports club Receipts and Payments Account for the year ended 31^st December 2018

Receipts	Rs	Payments	Rs
To Balance bid		By Salaries paid	3,000
Cash in hand	4,000	By Printing charges paid	2,500
To Life membership fees received	10,000	By Tournament expenses	10,500
To Subscription received	15,000	By Investment purchased	25,000
To Rent received	2,000	By Balance cld Cash in hand	5,000
To Lockers rent received	1,000
To Tournament receipts	14,000
	46,000		46,000

(A) Treatment in income and Expenditure account:
When subscription received for the current year, previous years and subsequent period are given separately, subscription received for the current year will be shown on the credit side of Income and Expenditure
Account after making the adjustments given below:
(i) Subscription outstanding for the current year is to be added.
(ii) Subscription received in advance in the previous year which is meant for the current year, is to be added.When 'total subscription received during the current year is given, that total subscriptions received during the current year will be shown on the credit side of Income and Expenditure Account after making the following-adjustments: (i) Subscription outstanding in the previous year which is received in the current year will be subtracted. Subscription outstanding for the current year is added.
(iii) Subscriptions received in advance in the previous year which is meant for the current year, is added and subscriptions received in advance in the current year which is meant for the subsequent year must be subtracted.
(B) Treatment in Balance Sheet
(i) Subscriptions outstanding for the current year and still outstanding for the previous year will be shown on the assets side of the balance sheet.
(ii) Subscriptions received in advance in the current year will be shown on the liabilities side of the balance sheet.