10:09 .LTE Done EFS In SR - Assignment 1 (202... Q Question 2 (30 marks) Riverside Country Club has the following transactions for the year ended December 31, 2021. B Advertising And Promotion 105,500 Cash And Bank 98,900 Donations Received For The Year 32,000 Equipment At Cost 360,000 Furniture At Cost 2000 Life Membership Fees Received For The Year 420,000 Lighting And Heating 26,300 Refreshment Purchases 185,000 Refreshment Takings Rent And Rates 300,000 36,000 Wages And Salaries 321,400 Subscription Fees Received For The Year 462,000 Creditors For Refreshment Supplies 22.500 Refreshment Stock As At January 1, 2021 25,000 Refreshment Stock As At December 31, 2021 45,000 Accumulated Depreciation-Equipment As At January 1, 2021 30,000 Accumulated Depreciation Fumiture As At January 1, 2001 20,000 Accumulated Fund As At January 1, 2021 132.000 Additional information: 1. 2. 3. 4. It is the organizational policy that the life membership assumes for 15 years Provide depreciation for equipment and furniture on the straight-line basis. Their wed lives assume 8 years and residual value at the end of the useful lives will be $40,000 each. Wages and salaries of $34,400 have not yet paid as at December 31, 2021. Subscription fees of $34,000 for the best financial year have been received in advance at December 31, 2021. Required: (a) For the year ended December 31, 2021, prepare the (1) (i) Refreshment Profit And Loss Account. Income And Expenditure Account. (b) Prepare the Balance Sheet as at December 31, 2021. (3.5 marks) (14 marks) (12.5 marks) coral And Financial Sings In Spurt And Rection)