The following trial balance of the Grampian Golf Club was extracted from the books as on 31 December 2019:

Notes:
(i) Bar purchases and sales were on a cash basis. Bar inventory at 31 December 2019 was valued at £12,820.
(ii) Subscriptions paid in advance by members at 31 December 2019 amounted to £3,740.
(iii) Provide for depreciation of equipment £4,800.
Required:

(a) Draw up the bar trading account for the year ending 31 December 2019.

(b) Draw up the income and expenditure account for the year ending 31 December 2019, and a balance sheet as at 31 December 2019.

Transcribed Image Text:

Clubhouse Equipment Profits from raffles Subscriptions received Wages of bar staff Bar inventory 1 January 2019 Bar purchases and sales Greenkeepers' wages Golf professional's salary General expenses Cash at bank Accumulated fund at 1 January 2019 Dr 284,000 37,200 Dr 58,400 18,800 82,600 43,000 74,000 1,820 7,848 607,668 Cr 13,016 Cr 366,800 169,200 58,652 607,668