Question: Draw all the relevant financial statement and show the working Ine Following is the summary of the cashbook of Mbedade football club for the year

Draw all the relevant financial statement and show the working

Draw all the relevant financial statement andDraw all the relevant financial statement and
Ine Following is the summary of the cashbook of Mbedade football club for the year ended 30 june Receipts $ood Payments Bank balance ( 1 July 2010) 2340 Casual wages 7200 Members subscription 49 850 Bar supplies 43,300 Entrance fees 32 060 Rates 1 200 Bar sales 60 840 Bent 24 600 Competition receipts 15 820 Secretary's basic salary 18 000 lighting and water 5 040 Competition prizes 14 4DO Stationery and postage 3 840 Repairs to gymnasium 3 300 Ground up keep 4 500 Bar manager's salary 5 400 Deposit with SACCO 35 000 Bank balance 6 130 170 910 1 10 910 Additional information . The assets of the club on I july 2010 were 95 FollowS . Land 650 DOO Gymnasium and equipment 250 600 Bar inventory 10 800 Prizes in hand 4 800 2. Bar supplies owing amounted to $ 4200 000 on 1 July 2010 3. On 30 june 2011 the bar inventory was $ 9 Goo OOD, prizes in hand $ 2 400 000 and $ 5 640 000 was owing For bar supplies4 The secretary is to receive a leave allowance of 5 10 of his basic salary . It was also agreed that the bar manager Should receive a $ 500 0DO bonus For increased sales during the year . 5 . From the register of members, It appeared that unpaid Subscriptions as at 30 june 2011 totaled $5 100 0OD, Subscriptions received during the year included $ 2550 000 in respect of the previous year and $ 1 700 000 in respect of the year starting I july 2011 6 Interest earned on the deposit with the SACCO for the year ended 30 june 2011 amounted to $ 1750 00 0 7. The rent paid was for fifteen months up to 30th September 201 1 . 8 The gymnasium and equipment are to be depreciated at the rate of 100 10 per annum on straight line method . Required ") Income and expenditure account for the year ended 30 June 201 1 D) Statement of Financial position as at 30 june 201 1

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