From the following Receipt and Payment Account prepare final accounts of a Unity Club for the year ended March 31, 2017. Receipt and Payment Accounts for the year ending March 31, 2017 Receipts Amount Rs Payments Amount Rs Balance b/d 15,000 Furniture 18,000 Sale of Old furniture (costing Rs 6,000) 4,000 Library books 10,000 Subscriptions: Salaries 72,000 2015–16 18,000 General expenses 18,000 2016–17 60,000 Electric charges 12,000 2017–18 12,000 90,000 Newspapers 33,800 Sale of old newspapers 10,800 Postage 3,000 Profit from entertainment 44,000 Stationery 40,000 Rent 84,000 Audit fee 8,000 Balance c/d 33,000 2,47,800 2,47,800 Balance Sheet as on March 31, 2016 Liabilities Amount Rs Assets Amount Rs Outstanding Salary 6,000 Cash 15,000 Capital Fund 6,94,000 Outstanding subscription 18,000 Library Books 30,000 Furniture 37,000 Land and Building 6,00,000 7,00,000 7,00,000 Additional Information: 1. The Club had 500 members each paying an annual subscription of Rs 150. 2. On 31.3.2016 salaries outstanding amounted to Rs 1,200 and salaries paid included Rs 6,000 for the year 2015–16. 3. Provide 5% depreciation on Land and Building.