Question
Dwamena Akenten Old Students' Association (DAOSA) was inaugurated on September 1. All the 30 foundation members agreed to pay monthly dues of 6,000 per head.
Dwamena Akenten Old Students' Association (DAOSA) was inaugurated on September 1. All the 30 foundation members agreed to pay monthly dues of €6,000 per head. On Sept. 30, the treasurer's report revealed that
(a) Twenty-seven members had paid fully their dues six of which had paid for the following month and three others for the next two months.
(b) A set of fairly used jerseys had been bought for €63.000
(c) Two dinner dances which cost €6,000 and €45,000 respectively yielded gate
(d) Hiring of plastic chairs for 8 meetings had cost €6,000 per each meeting; all proceeds of e12.000 and 144.000. other expenses on meetings totaled 18.000.
(e) 60,000 had so far been spent on the printing of club t-shirts to be worn on the day of the meeting with a Vice President of World Bank who is also an old student The meeting is scheduled in November.
(f) Secretary's expenses for September amounted to ¢39,000.
You are required to prepare the club's:
(i) Subscriptions Account
(ii) Receipts and Payments Account,
(iii) Income and Expenditure Account,
(iv) Balance sheet, for the month.
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