Sailing club Statement of financial position at 31 March 2016 $ Non-current assets Freehold premises (350...

   

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Sailing club Statement of financial position at 31 March 2016 $ Non-current assets Freehold premises (350 0000 -17 500) Yard and maintenance shop (42 000-4200) Boatyard and launch (74 000 - 3700) Fixtures and fittings (28 000-2800) Boats and yachts (465 000 +61 000-26 300) Current assets Inventory Subscriptions owing Bank balance (opening balance plus all receipts less all payments given in question) Total assets Financed by: Opening accumulated fund at 1 April 2015 Add: surplus for the year Closing accumulated fund at 31 March 2016 Current liabilities Trade payables (700+400 + 1350 +970) Subscriptions in advance Total accumulated fund and liabilities 332500 37800 70300 25200 499 700 965500 1600 2000 290500 294100 1259600 1050 220 202560 1252780 3420 3400 6820 1259600 Workings: Calculation of opening accumulated fund at 1 April 2015: Sailing club Statement of financial position at 31 March 2016 $ Non-current assets Freehold premises (350 0000 -17 500) Yard and maintenance shop (42 000-4200) Boatyard and launch (74 000 - 3700) Fixtures and fittings (28 000-2800) Boats and yachts (465 000 +61 000-26 300) Current assets Inventory Subscriptions owing Bank balance (opening balance plus all receipts less all payments given in question) Total assets Financed by: Opening accumulated fund at 1 April 2015 Add: surplus for the year Closing accumulated fund at 31 March 2016 Current liabilities Trade payables (700+400 + 1350 +970) Subscriptions in advance Total accumulated fund and liabilities 332500 37800 70300 25200 499 700 965500 1600 2000 290500 294100 1259600 1050 220 202560 1252780 3420 3400 6820 1259600 Workings: Calculation of opening accumulated fund at 1 April 2015:

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calculation of the accumulated fund on 1 april 2015 1050220 42880 125700 10408310 First we need ... View the full answer