Following is the Receipts and Payments Account of M/s Rainbow Club for the year ended 31 st March, 2025: Receipts ₹ Payments ₹ To Cash in hand on…

M/s Rainbow Club Income and Expenditure A/c for the year ended 31st March 2025 Expenditure ₹ Income ₹ To Cosmetics Consumed (WN2) 31,500 By Subscription A/c (WN 1) 70,500 To Honorarium 12,000 By Donation A/c 6,750 To Salaries 27,000 By Interest on Investments 4,500 To Sundry Expenses 1,500 By Fashion Show To Rent for Building 18,000 Proceeds 75,750 (-) Expenses (51,000) 24,750 To Surplus 16,500 1,06,500 1,06,500 WN 1 : Calculation of Subscription Particulars ₹ Subscription received in Cash 67,500 Add: Subscription received in advance as on 1st April, 2024 2,250 Subscription due as on 31st March, 2025 3,000 Less: Subscription received in advance as on 31st March, 2025 (1,500) Subscription due as on 1st April, 2024 (750) 70,500 WN 2 : Cosmetics Consumed A/c Particulars Amount ₹ Particulars Amount ₹ To Opening stock 15,000 By Income & Expenditure 31,500 To Purchases (WN 3) 27,000 By Closing stock 10,500 42,000 42,000 WN 3 : Creditors of Cosmetics A/c Particulars Amount ₹ Particulars Amount ₹ By Bal b/d 12,000 To Bank A/c 22,500 By Purchases (bal. fig) 27,000 To bal. c/d 16,500 39,000 39,000