C You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have the following information: Receipts and payments account as at 30 June 2020 $ $ Balance b/d Subscription 120,000 Canteen creditors 145,600 320,000 Fixtures & fittings 46,000 Entrance fees Rental of hall Rental of lockers 37,600 Independence fair expenses 22.300 18,000 Wages for canteen staff 68,000 8500 Laundry expenses 7600 Canteen debtors 345 200 Independence fair 172,300 Prizes and trophies 8,800 Utilities 9500 Honorarium-Admin staff 28000 Repairs 4200 Balance eld 681,600 1,021,600 Additional information: 1 July 2019 30 June 2020 $ Club house 500,000 Fixtures and Fittings 64,000 500,000 100,000 Sports equipment 50,000 45000 Canteen debtors 105,000 85,000 Canteen creditors. 66,000 59,000 Canteen stock 12,000 24,000 Subscription un arrears 11,500 6,700 Subscription in advance 2,000 3,400 Accrued hall rental . 2,000 Repairs paid in advance 700 500 1,021,600 Proceeds from the independence fair are to be utilized for construction of a tennis court. The following accounts are required: a. Trading Account for the Independence Fair for the year ended 30, June 2020. (9 marks) b. Income and Expenditure Account for the year ended 30 June 2020. (15 marks) c. Balance sheet as at 30 June 2020. Additional Marks (workings 31 marks) (19 marks) Cover Sheet/ Title Page Introduction Table of contents Total 74 marks MARK SCHEME Mark (s) 1 3 2 147 6 Content Reference (APA: include in text citation) Page number Font size Headings Bibliography Grammar Organization Management report TOTAL 175