(a) Club 2021 had subscriptions in arrear of K600 and in advance K150 at 31 December 2004. During the year to 31 December 2005, K7800 of subscriptions were received of which K390 related to 2006. At 31 December 2005 there were still 12 members owing subscriptions of K60 each.prepare appropriate subscriptions account for the year to 31 December 2005.

(b) A Senior Citizens' Club runs a grocery shop. During the month of May 2003, the takings from the grocery were K8700 and grocery purchases were K6300. Inventories and creditors for the grocery purchases were as follows: Inventory 1 May 1200, Inventories 31 May 1800, Creditors 1 May 600 and Creditors 20 May 900.The grocery manager's pay for the month amounted to K1500.

Prepare the grocery trading and profit and loss account for the month.

(c) Compare and contrast between Business entrepreneurship and social entrepreneurship? What are the main socio-economic benefits of each type of entreprneurship?