Which of the following transactions will NOT form part of the income and expenditure account of White Horse Country Club for the year ended 31 March 2021?
(i) Depreciation of building Rs. 25,000
(ii) Subscriptions received for the year 2021-22 Rs. 14,000
(iii) Life Membership fees received from 1 member Rs. 2,50,000
(iv) Amount received on sale of old newspapers and magazines Rs. 5,000
1
Both (i) and (ii)
2
Both (iii) and (iv)
3
Both (ii) and (iii)
4
Both (i) and (iv)