b) The following information was extracted from the books of Muscle Flex Sports Club for the...

 

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b) The following information was extracted from the books of Muscle Flex Sports Club for the year ended 31 December, 2017. Balances as at: 1. Ordinary subscription in arrears Ordinary subscription received in advance Owing to suppliers of fundraising items Owing to Ivory Hotel (venue for fundraising) Additional information: The following transactions were recorded in the receipts and payments account for the year ended 31 December, 2017. Shs '000' 2 Fundraising dinner income Fundraising dinner expenses Ordinary subscription income 1 January 31 December Shs '000' Shs '000' 45,000 25,500 12,000 65,000 25,000 80,000 (1) ordinary subscription account. (ii) life subscription account. Life subscription 25,000 Life subscription is recognised over a period of 10 years. 50,000 28,000 16,500 2,500 Required: Prepare for Muscle Flex Sports Club for the year ended 31 December, 2017 the: b) The following information was extracted from the books of Muscle Flex Sports Club for the year ended 31 December, 2017. Balances as at: 1. Ordinary subscription in arrears Ordinary subscription received in advance Owing to suppliers of fundraising items Owing to Ivory Hotel (venue for fundraising) Additional information: The following transactions were recorded in the receipts and payments account for the year ended 31 December, 2017. Shs '000' 2 Fundraising dinner income Fundraising dinner expenses Ordinary subscription income 1 January 31 December Shs '000' Shs '000' 45,000 25,500 12,000 65,000 25,000 80,000 (1) ordinary subscription account. (ii) life subscription account. Life subscription 25,000 Life subscription is recognised over a period of 10 years. 50,000 28,000 16,500 2,500 Required: Prepare for Muscle Flex Sports Club for the year ended 31 December, 2017 the:

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