Below are the financial statements of Melkbos Tennis Club:

Listed below are the receipts and payments for the year ended 31 December 20x5:

Adjustments and other information:

1. On 31 December 20x5, bar inventory amounted to R4 800.

2. On 30 April 20x5, insurance was paid for the year.

3. The club has 250 members and membership subscription fees are R10 per person per year. Accrued membership subscription fee for 20x4 must be treated as irrecoverable.

4. Tennis equipment was bought on 1 July 20x5 and depreciation is at 20% per annum on cost.

5. The furniture was bought on 1 January 20x4 and is depreciated over the useful life of three years using the straight-line method.

6. On 30 June 20x5, a payment of R2 000 was made towards the long-term loan.

7. The income from the current fund was used to finance the training course.

8. The barman earns a salary of R100 per month.

9. Accounts payable as at 31 December 20x5:

You are required to:

1. Prepare a bar trading account for the year ended 31 December 20x5.

2. Prepare an income and expenditure account for the year ended 31 December 20x5.

3. Prepare a statement of financial position as at 31 December 20x5.

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Melkbos Tennis Club STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20x4 Notes 20x4 ASSETS Non-current assets ******** Property, plant and equipment Club buildings (at cost) Furniture (cost 15 000-accumulated depreciation 5 000) Tennis equipment (cost 10 000-accumulated depreciation 6 000) Investment: Paarl District Bank: Kevin Curren fund (12%) Current assets Bar inventory Accrued income: membership subscription fees Prepaid current liabilities TOTAL ASSETS EQUITY AND LIABILITIES Owner's Equity and reserves Capital (1 January 20x4) Add: Surplus Add: Entrance fees Other funds ************** ***************** Kevin Curren fund: Capital Income Non-current liabilities Long-term borrowings: Paarl District Bank (20%) Current liabilities Bar payables Income received in advance: membership subscription fees Accrued expenses: telephone Bank overdraft TOTAL EQUITY AND LIABILITIES ********** **************************** 99 000 00 75 000 00 10 000 00 4 000 00 10 000 00 7 745 00 7 550 00 120 00 75 00 106 745 00 86 830 00 66 130 00 9 800 00 400 00 10 000 00 500 00 15 000 00 15 000 00 4 915 00 3 500 00 90 00 25 00 1 300 00 106 745 00