The Dabi Golf Club prepares its accounts annually on 31st March. The Receipts and Payments Account for the year ended 31st March 2016 was as follows.

The following additional information is available:

i) The remaining assets and liabilities of the Club at the beginning and end of the year were:

ii) During the year equipment with a book value of GHȼ30,000 was sold for GHȼ25,000.
iii) Of the subscriptions due on 1st April 2015, GHȼ 220 remains unpaid. This is to be treated as an irrecoverable debt.
Required:
a) Calculate the Accumulated Fund on 1st April 2015.                                                                                                    (3 marks)

b) Prepare the Subscription Account for the year ended 31st March 2016.                                                                      (4 marks)

c) Prepare:                                                                                                                                                                      (13 marks)
i) Income and Expenditure Account for the year ended 31st March 2016

ii) Statement of Financial Position as at 31st March 2016.

The ABSU Social Club prepares its accounts annually on 31st December. The Receipts and Payments Account for the year ended 31st December 2014 was prepared by the Treasurer as follows:

The following additional information is available:
i) The equipment sold during the year was valued in the books at GH¢600 on 1st January 2014. The Club’s policy is to provide a full year’s depreciation in the year of purchase but none in the year of sale.
ii) The savings account (short term) pays a fixed rate of interest of 5% per annum. An additional amount of GH¢400 was paid into the account on 1st July 2014. There were no withdrawals made during the year. Interest due on 31st December 2014 has not been received.
iii) The remaining assets and liabilities of the Club at the beginning and end of the year were:

iv) All subscriptions due for the year 2013, but unpaid on 31st December 2014 are considered to be irrecoverable debts.
v) Bar staff wages are the only expense to be charged to the Bar Trading Account.

Required:
a) Prepare the Bar Trading Account for the year ended 31st December 2014.                                                                  (5 marks)

b) Prepare the Income and Expenditure Account for the year ended 31st December 2014.                                              (8 marks)

c) Prepare Statement of Financial Position as at 31st December 2014.                                                                             (7 marks)

The following information relate to “God will Provide” Youth Club for the accounting period of 2014.

Additional Information are:
i. Cash in hand as at 01/01/14                                                 18,000
ii. Subscription owing as at 01/01/14                                       8,000
iii. Any subscription outstanding is written off in the following year if it is not paid.

You are required to prepare:
i. Receipts and Payments Account for the year ended 31st December, 2014                                                                      (5 marks)

ii. Subscription Account                                                                                                                                                      (3 marks)

iii. Income and Expenditure for the year ended 31st December, 2014                                                                                (7 marks)