The secretary of the Woodland Hockey Club gives you the following summary of his cashbook for the year ended 31 May 20X1:

The secretary also gives you the following information:

On 31 May 20W9 the club’s equipment appeared in the books at £150. 12 per cent is to be written off the book value of the equipment as it appears on 31 May 20X0.

Required
a. Show your computation of the club’s accumulated fund as on 31 May 20X0.
b. Prepare the income and expenditure account showing the result for the year ended 31 May 20X1, and the statement of financial position as on that date.

Transcribed Image Text:

Balances at commencement of year: - At bank - In hand Subscriptions: - Supporters - Supporters 20X0-20X1 season Fees per game Annual social Cashbook £ 63 10 150 20 170 134 547 Rent Printing and stationery Affiliation fees Captain's and secretary's expenses Refreshments for visiting teams Annual social Equipment purchased Balance at close of year: - At bank - In hand £ 234 18 12 37 61 102 26 49 8 547