1. The following is a summary of the receipts and payments of the Moonlight Rotary Club during the year ended 31 December 2019. N Receipts: Cash and Bank balances b/d 210 Sales of competition tickets 437 Members subscriptions 1,987 Donations 177 Refund of rent 500 Balance c/d 13 3,324 Payments: Secretarial expenses 163 Rent 1,402 Visiting speakers expenses 1,275 Donations to charities 35 Prizes for competitions 270 Stationery and printing 179 3,324 The following valuations as at 31 December 2019 are also available: 2018 2019 N N Equipment (original cost N1,420) 975 780 Subscriptions in arrears 65 85 Subscriptions in advance 10 37 Owing to suppliers of competition prizes 58 68 Inventory of competition prizes 38 46 Required: a) Calculate the Accumulated Fund of Moonlight Rotary Club as at 1 January 2019. b) Prepare the following accounts as at 31/12/2019: i. The Subscriptions Account; ii. The Competition prizes account. c) Prepare an Income and Expenditure Account for the Moonlight Rotary Club for the year ended 31 December 2019 and a Statement of Financial Position as at that date.