The following account balances were extracted form the books of a kiltuu pension fund for the year ended 30thJune 19X7:
|
Dr (Shs)
|
Cr(Shs)
|
|
Payments to members
Members' contributions
Payment for management expenses
Interest on investment by fund
Fund Account
Cash balance (PMG)
Investment A/C
|
500,000
150,000
350,000
2,000,000
|
800,000
400,000
1,800,000
________
|
|
3,000,000
|
3,000,000
|
Required: Prepare an income and expenditure account for the year ended 30th June 19X7 and a balance sheet as at that date.