Reference no: EM132765779
On 1 January 2018, The Milham Sport Club had the following assets:
RM
Cash at bank 200
Bar Stocks 800
Club house buildings 12,500
During the year to 31 December 2019, the Club received and paid the following amounts:
Receipts RM Payments RM
Subscriptions 2018 3,500 Rent and rates 1,500
Subscriptions 2019 380 Extension to club house 8,000
Bar income 6,000 Bar purchases 3,750
Visitors' fees 650 Secretarial expenses 240
Loan from bank 5,500 Interest on loan 260
Competition fees 820 Bar expenses 600
Games equipment 2,000
Notes: - The bar stock on 31 December 2018 was RM900.
The games equipment should be depreciated by 20%.
Required:
Problem a) Draw up the bar trading account for the year ended 31 December 2019.
Problem b) Draw up the statement of comprehensive income for the year ended 31 December 2019.
Problem c) Draw up the statement of financial positions as at 31 December 2019.
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