Following is theReceipt and Payment Account of Women’s Welfare Club for theyear ended December 31, 2007: Receipt and Payment Account for the year ending December 31, 2007 Receipts Amount Rs Payments Amount Rs Balance b/d 7,250 Salary 12,500 Subscriptions 81,750 Stationery 1,700 Donations 3,000 Electricity charges 9,550 Grant from Government 15,000 Insurance 7,500 Sale of newspapers 300 Equipments 30,000 Proceeds of charity show 16,500 Petty expenses 500 Interest on investments 10% for full year 7,000 Expenses on charity show 12,900 Sundries income 400 Newspapers 1,000 Lectures fee 16,500 Honorarium to Secretary 12,000 Balance c/d 27,050 1,31,200 1,31,200 AdditionalInformation: 01.01.2007 Rs 31.12.2007 Rs Outstanding salaries 1,200 1,800 Insurance prepaid 700 300 Subscription outstanding 3,750 2,500 Subscription received in advanced 1,750 1,000 Electricity charges outstanding — 1,250 Stock of stationery 2,250 700 Equipments 25,600 50,200 Building 1,20,000 1,14,000 Prepare Income andExpenditure Account for the year ended December 31, 2007 and BalanceSheet as on that date.