Problem 8: From the following receipt and payment account of Edhi Centre, prepare an income...

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Accounting

Problem 8: From the following receipt and payment account of Edhi Centre, prepare an income and expenditure account for the year ended 31-12-2023 and a Balance sheet as on that date.
Adjustments:
Locker rent AED 20 referred to the previous year and AED 30 is still owing.
Rates AED 20 referred to the previous year and AED 500 is still owing.
Subscription unpaid for the current year AED 200.
Depreciate building by 5% p.a.
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