A summary of the Uppertown Football Club is shown below. From it, and the additional information, you are to construct an income and expenditure account for the year ended 31 December 20X4, and a balance sheet as at that date.

Further information:
(i) At 1.1.20X4 equipment was valued at £500.
(ji) Depreciate all equipment 20 per cent for the year 20X4.
(iii) At 31.12.20X4 rent paid in advance was £60.
(iv) At 31.12.20X4 there was £33 owing for printing.

Transcribed Image Text:

Balance 1.1.20X4 Collections at matches Profit on sale of refreshments Cash Book Summary 180 1,650 315 2,145 Purchase of equipment Rent for football pitch Printing and stationery Secretary's expenses Repairs to equipment Groundsman's wages Miscellaneous expenses Balance 31.12.20X4 125 300 65 144 46 520 66 879 2,145