For 2016SheetTheDr.ccount for the year ended 31st December, 2016 and a Balancerent 300 and printer's billfollowing is the receipts and payments account of a club for the year ended 31st December, 2016:ReceiptsReceipts and Payments AccountAmount₹AmountPaymentsAmount6,00020,000250Cash in handSubscriptions:2015201620178002,0002,9501,500Bank overdraftInvestment in securities300 Furniture16,200 Salaries150Printing and stationery290 Miscellaneous expenses670 Balance :480Cash in hand120Cash at bank19,710Entrance fees3,1003,0001.ASOIncome from entertainments6,200890Interest on securities1,420Sale proceeds of old chairs5503,100a Balance Sheet as on that date having due regard to the following additional information:19,710(i) The club has 1,800 members, each paying an annual subscription of 10. Subscriptions amounting(c) Stock of stationery on 31st December, 2015 was 125 and on 31st December, 2016, 87.(ii) Entrance fees are to be capitalised.32,000an Income and Expenditure Account of the club for the year ended 31st December, 2016 andPrepareterest onds of oldto * 90 are still in arrear in respect of the year 2015.securities(ie) Salary of ? 550 for December, 2016 is outstanding. Accrued miscellaneous expenses at31st December, 2015 amounted to * 132.The club hadpaid 2 500 in the year 2015 towards telephonecharges of which 125 related to 2016.(a) As on 31st December, 2015, premises stood in the books at * 24,500 and investment at 6,500.Depreciate premises and furniture by 5%.​