Question 1 Report
a. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arrears | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Subscription Account
b. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arrears | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Competition Prizes Suppliers Account
c. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arreas | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Competition Trading Account
d. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arreas | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Income and Expenditure Account