Following are the receipts and payments account of House Club, the list of its assets and liabilities, and the bar trading account. Assets and liabilities of the Club, other than cash and bank balances, at 1 January and 31 December 209 : (1) General expenses and insurance were to be allocated in the following ratio: bar 30 percent, office 70%. Other expenses were related wholly to office. (2) Motor vehicles were to be depreciated at a rate of 15 percent on a reducing balance basis. Equipment was to be depreciated at 10 percent p.a. on cost. It is the company's policy to provide a full year's depreciation in the year of purchase. Prepare the following for House Club: (a) A subscription account for the year ended 31 December 209 (5 marks) (b) An income and expenditure account in vertical form for the year ended 31 December 20x9 (10 marks) (c) A statement of financial position in vertical form showing the net current assets as at 31 December 20x9 (15 marks) Following are the receipts and payments account of House Club, the list of its assets and liabilities, and the bar trading account. Assets and liabilities of the Club, other than cash and bank balances, at 1 January and 31 December 209 : (1) General expenses and insurance were to be allocated in the following ratio: bar 30 percent, office 70%. Other expenses were related wholly to office. (2) Motor vehicles were to be depreciated at a rate of 15 percent on a reducing balance basis. Equipment was to be depreciated at 10 percent p.a. on cost. It is the company's policy to provide a full year's depreciation in the year of purchase. Prepare the following for House Club: (a) A subscription account for the year ended 31 December 209 (5 marks) (b) An income and expenditure account in vertical form for the year ended 31 December 20x9 (10 marks) (c) A statement of financial position in vertical form showing the net current assets as at 31 December 20x9 (15 marks)