14.1 Bewley Rugby and Field Sports Club. The following receipts and payments account for the year ended 31 December 20X6 has been prepared.

Receipts Payments

£

£

Opening balance 2,400 Rent of rugby fields 8,300 Entrance fees 2,000 Bar purchases 18,660 Subscriptions 12,000 Printing & stationery 3,520 Bar sales 27,600 Hire fees 5,600 Donations 4,500 Extension to clubhouse 5,000 Sundry expenses 2,580 Closing balance 4,840

£48,500

£48,500 An analysis of subscriptions reveals the following:

Rugby Field sports Total

£

£

£

Received in 20X5 for 20X6 240 120 360 Received in 20X6 for 20X5 160 2,400 Received in 20X6 for 20X6 6,960 2,000 Received in 20X6 for 20X7 440 40

£7,560

£4,440

£12,000 Entrance fees are to be credited direct to the accumulated fund.
The donation of £4,500 was to be used for the coaching of schoolchildren in rugby. The club owns its own clubhouse and sports field which cost £28,000.
Sundry assets and liabilities at the beginning and end of the year were as follows:
1.1.X6 31.12.X6 £
£
Bar stocks 1,500 1,350 Creditors - bar purchases 1,200 1,300 - hire fees -
150 Prepaid rents 1,000 1,250 Sundry expenses outstanding 1,200 1,300 Prepare the income and expenditure statement and a balance sheet as at that date.