income and expenditure questiion

faolteam

INCOME EXPENSES

BALANCE 8 SUBS 40.00 SECETARY EXP 29.45
1 SUB 2007 10.00 BANK STATEM 2.50
4 SUB 2008 60.00 DONATION 1000.00

5 SUB2009 75.00
TABLE TENNIS,
BOWLING 237.30
TOTAL 1031.95
AIB INTEREST OF 16637.50 350.70
AIB SAVINGS A/C INTEREST 2.87
LOSS FOR YEAR 2009 256.08

TOTAL 1031.95

EXPENSES

SECETARY EXP 29.45 BANK STATEM 2.50 DONATION 1000.00

5 SUB2009 75.00
TABLE TENNIS,
BOWLING 237.30
TOTAL 1031.95



LILABILITIES
BALANCE AT 1 JAN 2009 20048.59
LOSS FOR YEAR 256.08

19792.51


ASSETS

CASH IN HAND 183.00
AIB A/C 2621.31

AIB A/C 16988.20

19792.51
IS THERE ANYTHING fishy about the way these figures are adding up ??
how can a loss of 256.08 in income be considered as income ??
and if a donation of 1000 euro is made every year and judging on an income of 320 a year how long will it take before we go bust completely ???:)

demijose

AIB SAVINGS A/C INTEREST 2.87
it is not 2.87 it should be 42.87

and the loss of 256.08 is not an income and no where u have stated it is an income
you have reduced from ur liabilities this figure which means it is loss

and in ur income & exp statement may be u would have placed the loss in profit side but it will have a minus sign(which indicates a loss)

sorry if i have mistaken ur figures. this is what i could arrive at from what you have posted.


As far as the donation is concerned you can't go bust if you have a profit of 320 after covering all your expenses

Thanks