Question 5 The accounting records of Lakeside Country Club reveal: Balance Sheet as at 1 July...

Transcribed Image Text:

Question 5 The accounting records of Lakeside Country Club reveal: Balance Sheet as at 1 July 2023 $ $ $ Current assets 114,520 Bar inventory 31,200 Subscriptions in arrears 1,320 Bank 82,000 Non-current assets 306,970 Land and Buildings 276,000 Less Accumulated depreciation - buildings 13,600 262,400 Furniture and equipment 64,000 less Accumulated depreciation 19,430 44,570 Total assets 421,490 Current liabilities 15,668 Accounts payable 9,948 Subscriptions in advance 5,720 Non-current liabilities 40,000 Mortgage on land and buildings 40,000 Total liabilities Net assets Accumulated funds 55,668 $ 365,822 $ 365,822 Receipts Member's subscriptions Bar sales Donations Social receipts Entrance fees (capital item) Open with Summary of Receipts and Payments for year ended 30 June 2024 $ Payments $ 81,000 Accounts payable-bar supplies 234,606 485,520 Rates and taxes 15,648 1,940 Trophies 5,340 18,400 Electricty and gas 18,403 8,500 Bar wages 74,816 Glassware replacement-bar 2,394 Social expenses 24,522 Insurances 17,858 Repairs and maintenance 11,346 Cleaning and security 41,305 Furniture 11,000 Salaries and wages 75,400 General expenses 18,305 Mortgage-repayment 10,000 Additional information: Accounts payable-bar supplies 30/06/2024 11,436 Subscriptions in arrears Insurances prepaid Subscriptions in advance Bar wages to be accrued Bar inventory 960 8,300 1,430 2,036 38,624 Allowance for depreciation-buildings 2,180 Allowance for depreciation-bar equipment Allowance for depreciation-furniture 1,640 3,164 Required For the year ending 30 June 2024 prepare: Bar trading account . Member's subscription account . Income and expenditure account, and Balance sheet as at 30 June 2024. Question 5 The accounting records of Lakeside Country Club reveal: Balance Sheet as at 1 July 2023 $ $ $ Current assets 114,520 Bar inventory 31,200 Subscriptions in arrears 1,320 Bank 82,000 Non-current assets 306,970 Land and Buildings 276,000 Less Accumulated depreciation - buildings 13,600 262,400 Furniture and equipment 64,000 less Accumulated depreciation 19,430 44,570 Total assets 421,490 Current liabilities 15,668 Accounts payable 9,948 Subscriptions in advance 5,720 Non-current liabilities 40,000 Mortgage on land and buildings 40,000 Total liabilities Net assets Accumulated funds 55,668 $ 365,822 $ 365,822 Receipts Member's subscriptions Bar sales Donations Social receipts Entrance fees (capital item) Open with Summary of Receipts and Payments for year ended 30 June 2024 $ Payments $ 81,000 Accounts payable-bar supplies 234,606 485,520 Rates and taxes 15,648 1,940 Trophies 5,340 18,400 Electricty and gas 18,403 8,500 Bar wages 74,816 Glassware replacement-bar 2,394 Social expenses 24,522 Insurances 17,858 Repairs and maintenance 11,346 Cleaning and security 41,305 Furniture 11,000 Salaries and wages 75,400 General expenses 18,305 Mortgage-repayment 10,000 Additional information: Accounts payable-bar supplies 30/06/2024 11,436 Subscriptions in arrears Insurances prepaid Subscriptions in advance Bar wages to be accrued Bar inventory 960 8,300 1,430 2,036 38,624 Allowance for depreciation-buildings 2,180 Allowance for depreciation-bar equipment Allowance for depreciation-furniture 1,640 3,164 Required For the year ending 30 June 2024 prepare: Bar trading account . Member's subscription account . Income and expenditure account, and Balance sheet as at 30 June 2024.