The following balances have been extracted from the books of the Shaldon Amateur Dramatic Society as at the end of Year 8. Use these balances, and the notes which follow, to prepare an income and expenditure account for Year 8 and a balance sheet as at the end of Year 8.

Notes (1 Subscriptions received include £30 which has been received from members in advance for Year 9. There were no arrears or payments in advance at the end of Year 7. (2 Hire of the village hall costs £10 per meeting. The society holds one meeting every month. (3 Insurance of £ 40 has been paid in advance for Year 9. (4 The equipment depreciation charge for Year 8 is £ 358

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Subscriptions received Secretary and treasurer's expenses 1,280 292 Insurance 280 Hire of village hall for meetings 100 Equipment at net book value at end of year 7 891 Payment for equipment repairs 156 Other expenses 94 Profit from Christmas pantomime 548 Cash at bank 77 Fund/reserves at end of Year 7 1,674 Equipment purchased during Year 8 224 Donation received 150 Entertainment expenses 52 Interest received 27 Bank deposit account 1,489 Inventory of programmes for forthcoming Spring show 24