Compute the opening balance of the accumulated fund

Date 2010 1.1 Amount Shs 75,000 150,000 1.1 25,000 25,000 Receipts and Payments Account as at 31 Dec 2010 Details Amount Date Details Shs 2010 Cash in hand 10,000 Grounds man wages Balance at bank 283,000 Purchase of mowing machine Donations and 260,000 Rent of grounds Subscriptions Receipts from tea party 30,000 Cost of Tea party sales Donations for traveling 10,000 Travelling expenses Sale of Equipment 8,000 Printing and stationery Net proceeds from Dinner 78,000 Repairs to equipment Bank Interest 3,000 Honoraria to Secretary and Treasury Balances: 31.12 Cash in Hand Bank 40,000 28,000 50,000 40,000 31.12 25,000 224,000 682,000 682,000 Additional Information: 1 Balances on: 1. Jan 2010 31 Dec 2010 Subscriptions due in (Shs) 15,000 10,000 Amounts due for printing and stationery (Shs) 10,000 8,000 Un-presented cheques made for repairs (Shs) 30,000 25,000 Bank interest not entered in the cashbook as at 2,000 31.12.2010 (Shs) Estimated value of machine and equipment 80,000 175,000 (Shs) For the year ending 31" December 2010, the honoraria to the treasurer are to be increased by Shs 20,000, and the grounds-man is to receive a bonus of Shs 20,000. The equipment sold had been bought at Shs 2000