The following trial balance of the Grampian Golf Club was extracted from the books as on 31 December 2016:

(1) Bar purchases and sales were on a cash basis. Bar inventory at 31 December 2016 was valued at £12,820.
(2) Subscriptions paid in advance by members at 31 December 2016 amounted to £3,740.
(3) Provide for depreciation of equipment £4,800.

You are required to:

(a) Draw up the bar trading account for the year ending 31 December 2016.

(b) Draw up the income and expenditure account for the year ending 31 December 2016, and a statement of financial position as at 31 December 2016.

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Dr Cr f f Clubhouse Equipment Profits from raffles Subscriptions received Wages of bar staff Bar inventory 1 January 2016 Bar purchases and sales 284,000 37,200 13,016 366,800 58,400 18,800 82,600 169,200 Greenkeepers' wages 43,000 Golf professional's salary 74,000 General expenses 1,820 Cash at bank 7,848 Accumulated fund at 1 January 2016 58,652 607,668 607,668