The following trial balance of The Shire Golf Club was extracted from the books as on 31 December 20X3:

Notes:

(i) Bar purchases and sales were on a cash basis. Bar stocks at 31 December 20X3 were valued at £6,410.

(ii) Subscriptions paid in advance by members at 31 December 20X3 amounted to £1,870.

(iii) Provide for depreciation of equipment £2,400.

You are required to:

(a) Draw up the bar trading account for the year ended 31 December 20X3.

(b) Draw up the income and expenditure account for the year ended 31 December 20X3, and a balance sheet as at 31 December 20X3.

Transcribed Image Text:

Clubhouse Equipment Profits from raffles Subscriptions received Wages of bar staff Bar stocks 1 January 20X3 Bar purchases and sales Greenkeepers' wages Golf professional's salary General expenses Cash at bank Accumulated fund at 1 January 20X3 Dr £ 142,000 18,600 29,200 9,400 41,300 21,500 37,000 910 3,924 303,834 Cr £ 6,508 183,400 84,600 29,326 303,834