Income and Expenditure Account for Free Medical Society for the year ended 31st March 2018:

Income:
- Subscriptions received: Rs. 1,10,000
- Donations received: Rs. 50,000
- Interest received on investments: Rs. 6,000

Total Income: Rs. 1,66,000

Expenditure:
- Salaries and wages: Rs. 60,000
- Rent and rates: Rs. 8,000
- Stationery and printing: Rs. 4,000
- Medical supplies: Rs. 30,000
- Repairs and maintenance: Rs. 10,000
- Telephone and internet expenses: Rs. 6,000
- Miscellaneous expenses: Rs. 5,000
- Donation to charity: Rs. 10,000
- Purchase of investments: Rs. 30,000

Total Expenditure: Rs. 1,63,000

Surplus of Income over Expenditure: Rs. 3,000

Explanation:

The income and expenditure account of Free Medical Society for the year ended 31st March 2018 shows that the society has received a total income of Rs. 1,66,000 during the year. This includes subscriptions received from members, donations received from well-wishers, and interest received on investments made by the society.

The society has also incurred various expenses during the year, including salaries and wages paid to staff, rent and rates paid for the premises, stationery and printing expenses, medical supplies expenses, and repair and maintenance expenses. The society has also incurred expenses on telephone and internet services, and miscellaneous expenses.

The society has made a donation of Rs. 10,000 to a charity during the year and has also purchased investments worth Rs. 30,000.

The surplus of income over expenditure for the year is Rs. 3,000. This indicates that the society has been able to generate more income than it has spent during the year, which is a positive sign for the financial health of the society. The surplus can be used for future investments or to fund activities of the society.

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