Accounting for NPO's

Accounting for NPO's

Question 1 The following receipts and payments accounts for the year ended 31 December 2018 relates to "UGES EXCLUSIVE ALUMNI" GH00 2.900 6,550 29.000 1.200 5.500 7.500 1.000 3,050 Receipts and payments Accounts GH000 Bild: Cash Painting of Alumi Office Butik 26,250 Maintenance of grounds Subscription Barstowards salaries Ordinary members 7.875 Insurance Life members General expenses Annual dinner Investment count Tickets sales 2.0 Honorarium Bartakings 108,950 Annual dinner expenses Fumiwe and fittings Bar credits Alumni Office Maintenance Balod: Cash Bank ISIS The assets and liabilities of the club were as follows Dee 2018 Jan 2018 GH 000 GH 000 Bar purchases creditors 2.300 Insurance prepaid KI 250 Accrued maintenance Alumni office) 700 650 Barstock 10.550 65.500 2.000 1.195 15.510 150265 11Page You given the folkning avidital information 2. All bar purchases were on credit basis Ordiney member's subscription received in advance at 31/12/17 amounted to GH 1.000.000. Ordinary members subscription received during the year included GHE 750.000 insance for the following year c. A life membership scheme was introduced on 1 January 2016. Under the life membership scheme members were required to pay a subscription of GH4 500,000 each and aru to be apporticed to revenue over a 10 year period. 11 members paid for the scheme during the first year of it inception while 10 members paid for this scheme during the second year. The associatice investment account balance as at 19 January 2018 was GHe 13,380,000. During the year ended 31 December, 2015. interest of GH 1.390,000 was credited to that account c. All furniture and fittings in the association's account as M 31/12/2017 were bought in 1/1/2015 al alcalcolod CH 40/KO.COM It is the policy of the association to provide for depreciation annually on its non-current assets at 10% ce cost of such assets held at the end of the relevant year. You are required to prepare a. A bar trading account An income ad expenditure account c. A statement of financial position as at 31/12/18 i. financial position as at this date