Read the following and answer the questions below. On 1 January 2011 the Happy Haddock Angling Club

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Read the following and answer the questions below. On 1 January 2011 the Happy Haddock Angling Club had the following assets:

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During the year to 31 December 2011 the Club received and paid the following amounts:

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The snack bar inventory on 31 December 2011 was £900. The games equipment should be depreciated by 20%.

(a) Prepare an income and expenditure account for the year ending 31 December 2011. Show, either in this account or separately, the snack bar profit or loss.

(b) Prepare a statement of financial position as at 31 December 2011.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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