10:10 .LTE Done EFS In SR - Assignment 1 (202... Q Question 2 (30 marks) Riverside Country Club has the following transactions for the year ended December 31, 2021. B Advertising And Promotion 105,500 Cash And Bank 98,900 Donations Received For The Year 32,000 Equipment At Cost 360,000 Furniture At Cost 2000 Life Membership Fees Received For The Year 420,000 Lighting And Heating 26,300 Refreshment Purchases 185,000 Refreshment Takings Rent And Rates Wages And Salaries Subscription Fees Received For The Year Creditors For Refreshment Supplies Refreshment Stock As At January 1, 2021 Refreshment Stock As At December 31, 2021 Accumulated Depreciation-Equipment As At January 1, 2021 Accumulated Depreciation Fumiture As At January 1, 2001 Accumulated Fund As At January 1, 2021 Additional information: 1. 2. 300,000 36,000 321,400 462,000 22.500 25,000 45,000 30,000 20,000 132,000 3. 4. It is the organizational policy that the life membership assumes for 15 years Provide depreciation for equipment and furniture on the straight-line basis. Their wed lives assume 8 years and residual value at the end of the useful lives will be $40,000 each. Wages and salaries of $34,400 have not yet paid as at December 31, 2021. Subscription fees of $34,000 for the next financial year have been received in advance at December 31, 2021. Required: (a) For the year ended December 31, 2021, prepare the (1) (i) Refreshment Profit And Loss Account. Income And Expenditure Account. (b) Prepare the Balance Sheet as at December 31, 2021. (3.5 marks) (14 marks) (12.5 marks) coral And Financial Sings In Spurt And Rection)