Entrepreneurial And Financial Strategies In Spon And Rection-Aignant 1 (2022) 2 Page Question 2 (30 marks) Riverside Country Club has the following transactions for the year ended December 31, 2021. (S) Advertising And Promotion 105,500 Cash And Bank 98,900 Donations Received For The Year 32,000 Equipment At Cost 360,000 Furniture At Cost 260,000 Life Membership Fees Received For The Year 420,000 Lighting And Heating 26,300 Refreshment Purchases 185,000 Refreshment Takings 300,000 Rent And Rates 36,000 Wages And Salaries 321,800 Subscription Fees Received For The Year 462,000 Creditors For Refreshment Supplies 22,500 Refreshment Stock As At January 1, 2021 25,000 Refreshment Stock As At December 31, 2021 45,000 Accumulated Depreciation-Equipment As At January 1, 2021 30,000 Accumulated Depreciation-Furniture As At January 1, 2021 20,000 Accumulated Fund As At January 1, 2021 132,000 Additional information: 1. 2. 3. 4. It is the organizational policy that the life membership assumes for 15 years. Provide depreciation for equipment and furniture on the straight-line basis. Their useful lives assume 8 years and residual value at the end of the useful lives will be $40,000 cach Wages and salaries of $24,400 have not yet paid as at December 31, 2021. Subscription fees of $34,000 for the next financial year have been received in advance at December 31, 2021. Required: For the year ended December 31, 2021, prepare the Refreshment Profit And Loss Account. (a) (i) (ii) (b) Income And Expenditure Account. Prepare the Balance Sheet as at December 31, 2021. (3.5 marks) (14 marks) (12.5 marks)