2016 2017 As at 31 December Equipment (original cost K1,420) Subscriptions in arrears Subscriptions in advance Owing to suppliers of competition prizes Inventory of competition prizes 975 65 10 58 38 780 85 37 68 46 Required: (a) (b) Calculate the value of the accumulated fund of the club as at 1 January 2017 Reconstruct the following accounts for the year ended 31 December 2017 (i) the subscription account (i) the competition prizes account Prepare an income and expenditure account for the club for the year ended 31 December 2017 and a balance sheet as at that date. (10 Marks (5 Marks) (5 Marks) (5 Marks) (c) Total 25 Marks