Read the following and answer the questions below.

On 1 January 20X8 The Happy Haddock Angling Club had the following assets:

During the year to 31 December 20X8 the Club received and paid the following amounts:

The snack bar stock on 31 December 20X8 was £900.

The games equipment should be depreciated by 20%.

(a) Prepare an income and expenditure account for the year ended 31 December 20X8. Show, either in this account or separately, the snack bar profit or loss.

(b) Prepare a balance sheet as at 31 December 20X8.

Transcribed Image Text:

Cash at bank Snack bar stocks Club house buildings £ 200 800 12,500