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Hixon Sports Club provided the following information. Non-current assets Cash at bank Subscriptions in advance Subscriptions in arrears Trade payables 1 December 2018 30
Hixon Sports Club provided the following information. Non-current assets Cash at bank Subscriptions in advance Subscriptions in arrears Trade payables 1 December 2018 30 November 2019 S S 68,300 300 1.530 560 860 96,400 350 1,710 340 730 a) State the equivalent of a receipts and payments account for a trade organisation. (1 mark) Calculate the accumulated fund at 1 December 2018. (2 marks) Prepare the subscriptions account for the year ended 30 November 2019. Balance the account on this date and bring the balance down on 1 December 2019. (8 marks) During the year ended 30 November 2019 $15,620 was received by cheque for subscriptions. This included $480 from those in arreurs at 1 December 2018. The remaining balance was written off. Subscriptions Account f) Prepare the statement of financial position at 30 November 2019. Hixon Sport Clubs Statement of Financial Position at 30 November 2019 (8 marks)
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