accounting for club

The Gempur Rugby Club which was formed a few years ago had the following account balances on 1 April 2019: ACCOUNTS RM Sport equipment at cost 44,000 Accumulated Depreciation- sport equipment 8,800 Cash 37,000 Subscription in advance 1,000 Subscription in arrears 500 The treasurer of the club prepared the following receipts and payments account for the year ended 31 March 2020: Receipts: RM Payments: RM Cash balance at 1/4/2019 37,000 Sport Equipment 18,000 Subscriptions 22,500 (purchased on 1 April 2019) Interest received 1,000 Secretarial expenses 2,100 Sports Day entrance fees 5,200 Advertising 400 Annual sponsorship 2,500 General expenses 4,900 Rent 12,000 Sports Day expenses 3,700 Cash balance at 31/3/2020 27,100 68,200 68,200 The treasurer supplied the following additional information: RM Subscriptions not yet received 2,000 Rent payable 300 Prepaid general expenses 200 Required: a) Determine the club's accumulated fund on 1 April 2019. (2 marks) b) Prepare the income and expenditure account for the year ended 31 March 2020. (11 marks) C) Prepare the balance sheet as at 31 March 2020. (7 marks) d) Briefly explain the accounting treatment for life membership fees received by a club