(a) From the following income and expenditure account of a Club for the year ending 31st March, 2024, you are required to prepare receipt and payment account for the year ending 31st March, 2024 and Balance Sheet as on 1st April, 2023. Income and Expenditure Account For the year ending 31st March, 2024 ExpenditureAmount ₹IncomeAmount ₹ To Lawn Maintenance42,000By subscription1,05,000 To General Expenses13,000By Admission fees12,000 To Stationery1,500By Sports material (Sale of second-hand material)2,400 To Depreciation on Sport material22,000By Entertainment14,000 To Honorarium10,400 To Excess of income over Expenditure44,500 1,33,4001,33,400 Additional Information: Particulars1st April,202331st March,2024 Cash at bank60,000- Stock of sports material30,000- Tournament fund (after deducting tournament expenses of ₹ 14,000)6,000 Donations for club building1,40,000 Subscription due10,00015,000 Stationery stock4,000- Stationery was depreciated by 25% and Sports material by 50%.

(b) Attempt any ONE of the two sub-parts i.e. either (i) or (ii) :