On 31 December 2019 the following information for the Sugar Bridge Social Club is
made available to you.
Balances on the 1st January 2019 $
Bank 3,070
Subscriptions in arrears for 2018 290
Subscription received in advance for 2017 420
Equipment 1,800
In respect of the year to 31 December 2018, the following information is given to you:
Subscription received (including 2017
arrears)
5,920
Equipment bought 700
Grounds man’s wages 2,880
Sale of lottery tickets 1,090
Receipts from discos 7,510
Disco cost-including musicians 4,970
Teams’ travelling expenses 1,220
Competition prizes bought 580
Rent of buildings 2,170
Receipt for ground hire 900
Committee expenses 690
Donations from well- wishers 1,500
Subscription due but unpaid at 31st December 2017 amounted to 370. Depreciate
equipment by 10%.
Required:
a. Draw the subscription account. (5 marks)

b. Draw the Receipts and Payments Accounts (10 marks)
c. Draw the Income and Expenditure Accounts (10 marks)
END OF