1(a) A Club has 1440 members, each paying annual subscription of 200. Subscription outstanding as on 31.3.2020: 19,000. Subscription received in advance as on 31.3.2020: 6,000. Subscription received during 2020-2021 includes 17,000 for 2019-2020 and 10,000 for 2021-2022. Three Members died without paying annual subscription for the previous year and current year. Subscription outstanding for the year 2020-2021: 11,400. Calculate the Subscription received for the year 2020-2021. (b) Balances as at 1.4.2020: Capital Fund 1,80,00,000. Building Fund 24,00,000, Prize Fund' 12,00,000, Reserve Fund 4,00,000. During the year Expenditure on Building ' 4,00,000, Prizes awarded · 2,00,000, Interest Received on Investments 4,00,000. Investments were made against the Building, Prize and Reserve Funds commonly. Calculate the Balance of Capital Fund to be shown in the Closing Balance Sheet. (C) Cost of goods available for sale. 4,00,000, Total Sales 3,20,000, Opening stock of goods '80,000, Gross Profit Margin 25%. Calculate the Closing stock of goods. (d) On 1.04.2020, the balance of Machinery Account. 9,28,000. It was discovered during 2020-2021 that. 1,00,000 being the cost of generator purchased on 1st Oct, 2018 had been written off to Stores. After rectification and depreciation @ 20% p.a. on reducing balances, Calculate the balance of Machinery A/c as at 31.03.2021. (e) Give any four points of difference between Operating Lease and Finance Lease. ​

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