Reference no: EM132672658
The following information was given by the treasurer of Hokey club for the year's activities: Beginning of cash balance, 1 January 2019, RM 75,000 Receipts:
Donation received RM10,000
Profit on sale refreshments RM9,000
Subscriptions received RM 15,000
Payments:
Purchase of equipment RM5,200
Printing and stationary RM300
Repairs to equipment RM270
Miscellaneous expenses RM1,000
Secretary's expense RM800
Additional information:
Depreciation for equipment is 10% per year using straight line method.
Required:
Problem a) Prepare Receipts and Payments Account for the year ended 31 December 2019.
Problem b) Prepare an Income and Expenditure Account for the year ended 31 December 2019