From the following Receipts and Payments Account of Civil Lines Club, prepare Income & Expenditure Account for the year ended 31.12.2024 and its…

From the following Receipts and Payments Account of Civil Lines Club, prepare Income & Expenditure Account for the year ended 31.12.2024 and its Balance Sheet as on that date. Receipts Amount (₹) Payments Amount (₹) Cash in hand (Opening) 8,100 Salary 3,000 Cash in Bank (Opening) 15,000 Repair Expenses 500 Donations 7,000 Purchase of furniture 7,000 Subscriptions 10,000 Miscellaneous Expenses 500 Entrance fees 1,500 Purchase of Investments 6,000 Interest on Investments 100 Insurance Premium 300 Interest received from Bank 400 Billiards Table 10,000 Sale of Old Newspaper 250 Paper, Ink, etc. 250 Sale of Drama Tickets 1,250 Drama Expenses 500 Cash in hand (Closing) 4,500 Cash in Bank (Closing) 11,050 43,600 43,600 Information: (1) Subscriptions in Arrear for 20241,200, subscription in advance for 2025550. (2) Insurance Premium outstanding - 80, Miscellaneous Expenses prepaid - 90. (3) 60% of Donation is to be capitalized. (4) Entrance fee are to be treated as Revenue Income. (5) Interest accrued on Investments for is 200. (6) Billiards Table costing - 30,000 were purchased in the year 2023 and - 20,000 were paid for it.