The treasurer of the YY Club provided the following information: Prepare a receipts and payments account for
Question:
The treasurer of the YY Club provided the following information:
Prepare a receipts and payments account for the year ended 30 April 20–8 showing the amount paid for running expenses during the year.
Transcribed Image Text:
2$ Bank balance 1 May 20-7 4734 overdraft Subscriptions received: for the year ended 30 April 20-7 1200 for the year ended 30 April 20-8 12000 for the year ending 30 April 20-9 800 Profit on sale of old sports equipment (book value $520: proceeds of sale $580) 60 Cost of new sports equipment 3100 Rent paid for 15 months to 31 July 20-8 3000 Insurance 520 Loan from a member of the club 4000 Running expenses ? Bank balance 1 May 20-8 3324 debit
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
YY ClubReceipts and payments accountfor the year ended 30 April 208 Subscrip...View the full answer
Answered By
Maurat Ivan
I have been working in the education and tutoring field for the past five years, and have gained a wealth of experience and knowledge in this area. I have a bachelor's degree in education, and have completed additional coursework in teaching and tutoring.
In my previous roles, I have worked as a teacher in both private and public schools, teaching a variety of subjects including math, science, and English. I have also worked as a private tutor, providing one-on-one tutoring to students in need of additional support and guidance.
In my current role, I work as an online tutor, providing virtual tutoring services to students around the world. I have experience using a variety of online tutoring platforms and technologies, and am comfortable working with students of all ages and skill levels.
I am passionate about helping students succeed and reach their full potential, and I believe that my education and tutoring experience make me an excellent candidate for a tutoring job at SolutionInn. I am confident that my knowledge, skills, and experience will enable me to provide top-quality tutoring services to students on the SolutionInn platform.
0.00
0 Reviews
10+ Question Solved
Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
Question Posted:
Students also viewed these Business questions
-
The financial statements for the year ended 30 November 20X3 of Springboard Ltd included a provision for doubtful debts at that date of 900. During the year ended 30 November 20X4, the company...
-
The fixed budget performance report for the year ended 30 June 2018 for Motueka Mint is as follows: Budget Actual Variance Units of production: 84 000 94 000 10 000 F Factory overhead: Variable...
-
For the year ended 30 June 2018, the business income and expenses for APC Restaurant are shown in the following Profit & Loss Statement that was prepared under cash basis: Peter also provides you...
-
Windy Company manufactures surfboard bags in a one-department process: Design and Manufacturing. The Design and Manufacturing Department uses weighted-average costing method. The following tables...
-
For each of the following product areas, list your favorite brand and estimate the customer share you allocate to that brand: Gasoline Supermarkets Phone Service Consumer Electronics Soft Drinks
-
Should the independent auditors observe a physical inventory of property and equipment in every audit engagement? Discuss.
-
What power does a shareholder with a blocking minority have?
-
Many investors are prone to listening to stock pickers who claim to have beaten the stock market on a consistent basis. Most academics, however, are convinced that the stock market is generally...
-
(9x), the 5. In the diagram below, AABC~ADEF, the mZA = m2D = (x-90), and m2B = 25. What is the mZC? (A) 10 (B) 15 (C) 20 (D) 135 9
-
The Old English Garden Shop is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for July are listed below. The general...
-
A sports club was formed on 1 January 204. During the year ended 31 December 204 the club purchased sports equipment by cheque. In which of the financial statement would this be included? Receipts...
-
Pradeep is a trader. He provided the following information: $ Inventory at cost on 1 August 205 ....................... 1,600 For the year ended 31 July 206: Purchases...
-
Collection from debtors 50,000 would result in A. Sources of fund B. Use of fund C. Neither source or use of fund.
-
The following selected transactions apply to Topeca Supply for November and December, Year 1. November was the first month of operations. Sales tax is collected at the time of sale but is not paid to...
-
Give A brief description of who the group interacts with in pursuit of their support or opposition; identify members of the legislative branch in particular, but also consider the executive and...
-
How do sociological perspectives on race, ethnicity, and cultural identity intersect with processes of socialization, discrimination, and social mobility, particularly in the context of colonial...
-
Respond to this post: Data collection techniques for investigating terrorism it is best served when using the information life cycle. The information life cycle contains steps that involve...
-
A manufacturer of durable medical equipment reports the following information for one of its products: Unit selling price: $500 Variable cost per unit: $320 Total fixed costs: $41,400 Compute the...
-
An article in the Economist noted that in the first half of 2015, the value of Canadian oil exports declined and that "energy firms, which account for around a third of capital spending, are expected...
-
Determine whether the lines are parallel, perpendicular, or neither. 2x + 3y = -12, 2y - 3x = 8
-
Compare and contrast return on investment (ROI) and return on assets (ROA) measures. Which would be best for a retailer with no bank borrowing or other outside sources of funds (that is, the retailer...
-
Compare and contrast return on investment (ROI) and return on assets (ROA) measures. Which would be best for a retailer with no bank borrowing or other outside sources of funds (that is, the retailer...
-
Suggest a plausible explanation for sales fluctuations for (a) Computers, (b) Ice cream, (c) Washing machines, (d) Tennis rackets, (e) Oats, (f) Disposable diapers, (g) Latex for rubber-based paint.
-
31 BT E R ole]1i 1o 2111Trial balancev For the Quarter Ended May 31, 2022For the Year Ended May 31, 2022May 31, 2022 Totals $ $ Current Attempt in Progress Julia Dumars is a licensed CPA. During the...
-
Chief Customer Officer Jayden Hayden has asked sales analyst Paige Sage to analyze the company's Western Kentucky district. Paige intends to calculate ROAM for the district. She has compiled the...
-
Which of the following statements is correct?If the demand curve for a firm's stock is relatively flat, the firm will have a more difficult time raising alarge amount of new equity funds for...
Study smarter with the SolutionInn App