Question

The Alfred Rowing Club prepares its accounts annually on 31 March.

The summary of the Receipts and Payments Account for the year ended 31 March 2016 is shown below. Receipts Balance b/d 3 000Subscriptions paid in advance Stock of competition prizes Deposit account 6 300 800 4 500 300 20 000 2 During the year equipm(a) Prepare the subscriptions account for Alfred Rowing Club for the year ended 31 March 2016.(b) Prepare the income and expenditure account for Alfred Rowing Club for the year ended 31 March 2016. Clearly identify the(c) Prepare the statement of financial position for Alfred Rowing Club at 31 March 2016.

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Ca Subseriftion ale for ycas endod 31 matth 2016. A lfreol Rowing clule for the Paiticulais Paitiuular TO balance bld LubreriWN 1Eauipment aeeount Pattictare By Caeh (cale) By locs on Saleof enuipment By Depreciacion 6y balan te cld Par aeulars 160,0

Add a comment
Know the answer?
Add Answer to:
The Alfred Rowing Club prepares its accounts annually on 31 March. The summary of the Receipts...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The following is the receipts and payments account of Queen's Club for the year ended 31 December 2016: Receipts:...

    The following is the receipts and payments account of Queen's Club for the year ended 31 December 2016: Receipts: Payments: 88680 8320 Balance b/f 2040 Bar Purchases Wages Rent Entrance fees 840 Subscriptions: 2015 2016 2017 500 3720 6100 2560 1940 Heating and lighting General expenses New Equipment Balance c/f 700 Bar Sales Sales of investments 104540 9000 15000 129720 15500 129720 1. Additional information: 1 January 2016 31 December 2016 Bar inventory Owing for bar purchases Rent due 5440...

  • The treasurer of the Ocean Fishing Club has prepared the following receipts and payments account for...

    The treasurer of the Ocean Fishing Club has prepared the following receipts and payments account for the year ended 31 March 2014. Receipts Balance at 1 April 2013 Subscriptions received Donations Receipts from annual family day Shop takings 6 570 7 400 1 450 2 300 7 690 Payments Payments to trade payables Shop wages Administration expenses New equipment Repairs to equipment Transfer to deposit account Balance c/d 2 974 3 670 2 790 5 600 2 500 7 000...

  • Required From the following, taken from the books of Bingo Club, prepare: (a) The income and...

    Required From the following, taken from the books of Bingo Club, prepare: (a) The income and expenditure account for the period ended 31 December 2002; (b) The subscriptions account balanced property); and (c) The refreshments account in order to determine the profit or loss to be transferred to the income and expenditure account. Balances at 1 January 2002: 18 570 10 000 16 000 2400 1 400 Accumulated funds Loan from West Bank (15%) Club equipment (cost) Accumulated depreciation on...

  • Jasper, a sole trader, has provided the following summary of his bank receipts and payments for...

    Jasper, a sole trader, has provided the following summary of his bank receipts and payments for the year ended 30 April 2010 DR CR Cash and cheques 424 000 Machinery Payments to creditors Rent Insurance Wages Postage Electricity Sundries 30 400 228 000 24 200 14 200 104 200 800 8 400 4200 Jasper's year-end balances were as follows: At 30 April 2009 2010 Trade receivables (debtors) Inventory (stock) Trade payables (creditors) Machinery at net book value Rent prepaid Insurance...

  • QUESTION 3 BANK RECONCILIATION (20 MARKS) The information given below was extracted from the accounting records...

    QUESTION 3 BANK RECONCILIATION (20 MARKS) The information given below was extracted from the accounting records of Sunrisers Traders. REQUIRED 3.1 Complete the Cash Receipts Journal and Cash Payments Journal of Sunrisers Traders for March 2016. All entries must indicate the correct contra ledger account in the Details column. Cast the Journals. Use the following format: (10) Cash Receipts Journal Details Bank Total Cash Payments Journal Details Bank Total 3.2 Post to the Bank account in the General ledger. Balance...

  • Question 1 (25 marks) ABC Club Limited owns a club house in Causeway Bay, which is...

    Question 1 (25 marks) ABC Club Limited owns a club house in Causeway Bay, which is used by members of the club as well as by non-members. It also provides many club activities. The following is a summary of its income and expenditure accourt for the year ended 31 March 2019: HK$ HK$ 14,800 40.000 54,800 60,000 Income Members' subscriptions: Voting members Non-voting members Entrance fees from voting members Receipts from bar and dining room Voting members Non-voting members Non-members...

  • Sheila is a sole trader. She pays all the sales receipts into the business bank account....

    Sheila is a sole trader. She pays all the sales receipts into the business bank account. She provided her accountant with the following information for the year ended 31 December 2018 Bank account summary for the year ended 31 December 2018 DR Rent received   16 600   / Trade receivables 204 200 /   Cash sales   19 510 CR Balance b/d   6 520 / Trade payables    123 460 / General expenses    24 000 / Wages     31 560   / Motor vehicles   18 200 / Equipment  ...

  • QUESTION 2 DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT; CREDITORS CONTROL [20 MARKS] 2.1 REQUIRED Use the...

    QUESTION 2 DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT; CREDITORS CONTROL [20 MARKS] 2.1 REQUIRED Use the information provided below to prepare the Fixed Asset Realisation account in the General Ledger of Karridene Traders. (5) INFORMATION On 01 March 2015, the following balances appeared, amongst others, in the books of Karridene Traders: Vehicles (at cost) R500 000 Accumulated depreciation on vehicles R220 000 On 31 May 2015, an old vehicle that cost R200 000 was sold for cash to J. Jones...

  • cial Accounti... x MANCOSA SHORT QUESTION (ESSAY / CASE STUDY / EXERCISE) MODULE FINANCIAL REPORTING AND...

    cial Accounti... x MANCOSA SHORT QUESTION (ESSAY / CASE STUDY / EXERCISE) MODULE FINANCIAL REPORTING AND ANALYSIS FUNDAMENTALS OF FINANCIAL ACCOUNTING TOTAL MARKS 20 MARKS QUESTION 1 BANK RECONCILIATION (20 MARKS) The information given below was extracted from the accounting records of Dweb Stores REQUIRED 1.1 Complete the Cash Recipes Journal and Cash Payments Journal of Dweeb Stores for March 2019 ortaking the information provided into account Use only the columns illustrated below. In the details column write down the...

  • Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections...

    Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections from customers 5100 Payments. For rent -1500 For salanes -1500 For utilities -300 -330D Net cash provided (used) by operating activities 1800 Cash flows from investing activities Acquisition of Land -20000 Net cash provided (used) by investing activities Cash flows from financing activities Owner contribution 81000 Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease in cash Cash balance, December 1,...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT