The following is a summary of the receipts and payments of the Miniville Rotary Club during the

Question:

The following is a summary of the receipts and payments of the Miniville Rotary Club during the year ended 31 July 2023.

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Required:

(a) Calculate the value of the accumulated fund of the Miniville Rotary Club as at 1 August 2022.

(b) Reconstruct the following accounts for the year ended 31 July 2023:
(i ) the subscriptions account, (ii ) the competition prizes account.

(c) Prepare an income and expenditure account for the Miniville Rotary Club for the year ending 31 July 2023 and a balance sheet as at that date.
(Association of Accounting Technicians)

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