Modern Club's Balance Sheet as at 1st April , 2017 was as under: Liabilities ₹ Assets ₹ Capital Fund 2,00,000 Sports Equipments 50,000 Tournament Fund 60,000 Grounds 1,20,000 Subscriptions in Advance 6,000 Billiards Table 60,000 Salaries Unpaid 11,000 Subscriptions Outstanding 8,000 ​Cash and Bank Balances 39,000 2,77,000 2,77,000 The Receipts and Payments Account for the year ended 31st March, 2018 was: RECEIPTS AND PAYMENTS ACCOUNT Dr. Cr. Receipts ₹ Payments ₹ To Opening Balance 39,000 ​By Wages and Salaries 60,000 To Subscriptions 1,81,000 By Upkeep of Grounds 10,000 To Sale of old Materials 1,500 By Stationery 15,000 To Sale of Sports Equipment 6,000 By Audit Fee 2,000 ( Costing ₹ 10,000) By Expenses on Teams 65,000 To Entrance Fees 2,000 By Sports Equipments 20,000 To Life Membership Fees 50,000 By 5% Investments 40,000 To Donations for Tournament 20,000 ( On 1st October, 2017) By Cash and Bank Balances 87,500 2,99,500 2,99,500 Subscriptions still to be received are ​₹ 5,500 but subscriptions already received include ₹ 4,000 for next year. Salaries still unpaid are ₹ 6,000 . Sports Equipments are now valued at ₹ 45,000. Prepare Income and Expenditure Account and the Balance Sheet , after charging 10% depreciation on Billiards Tables.