accounting for club

On 1 January 2020, The Happy Club had the following assets: RM Cash at bank 200 Stocks 800 Club house buildings 12,500 During the year to 31 December 2020, the Club received and paid the following amounts: RM RM Receipts: Payments: Subscriptions 2020 3,500 Rent and rates 1,500 Subscriptions 2021 380 Extension to club house 8,000 Income 6,000 Purchases 3,750 Visitors' fees 650 Secretarial expenses 240 Loan from bank 5,500 Interest on loan 260 Competition fees 820 Club expenses 600 Games equipment 2,000 Additional information: 1. The stock on 31 December 2020 was RM900. 2. The games equipment should be depreciated by 20%. Required: (a) Prepare an income and expenditure account for the year ended 31 December 2020. (b) Prepare a balance sheet as at 31 December 2020