From the following cash transactions relating to Royal Club, Green Park, prepare Income and Expenditure account for the year ended 31st March, 2014 and a Balance Sheet as at that date : ReceiptsRs PaymentsRs Cash in hand on 1st April, 20134,900Salaries20,100Subscriptions (including Rs 800Travelling Expenses8,600 for the year ending 31-3-2015)52,100Printing &Stationery1,720Donations6,000Rent16,600Proceeds from charity show16,200Repairs450Sale of FurnitureBuilding purchased30,000 (Book value Rs 4,000)1,600Government Bonds5,000Life membership fees9,000Balance c/d on 31-3-201432,130Interest on Investments (Cost of Investments Rs 40,000)4,800Sale of old car20,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,14,600––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,14,600–––––––––– On 1-4-2013, the club owned land and building valued at Rs 40,000 and furniture valued at Rs 10,500. There were 150 life members on that date, each of whom had paid subscription of Rs 100. the book value of car was Rs 25,000. Subscriptions due on 31st March, 2013 and on 31st March 2014 were Rs 3,400 and Rs 2,000 respectively, Similarly, interest on Investments due at the beginning of the year was Rs 800 and at the end of the year was Rs 1,000.