just question C

a. b. Calculate the capital as at January 1, 2020 and December 31, 2020. (10 marks) Ascertain the amount for net profit for the year via the balance sheet. (5 marks) Section C You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding You already have the following information Receipts and payments account as at 30 June 2020 15 $ Balance b/c 120,000 Canteen creditors Subscription 320,000 Fixtures & fittings Entrance fees 37,600 Independence fair expenses Rental of hall 18,000 Wages for canteen staff Rental of lockers 8500 Laundry expenses Canteen debtors 345 200 Prizes and trophies Independence fair 172,300 Utilities Honorarium Admin staff Repairs Balance c/d 1,021,600 $ 145,600 46,000 22,300 68,000 7600 8,800 9500 28000 4200 681,600 1,021,600 Additional information: : 1 July 2019 1 30 June 2020 $ S $ Club house 500,000 500,000 Fixtures and Fittings 64,000 100,000 Sports equipment 50,000 45000 Canteen debtors 105,000 85,000 Canteen creditors 66,000 59,000 Canteen stock 12,000 24,000 Subscription on arrears 11.500 6700 Subscription in advance 2000 3,400 Accrued hall rental 2,000 Repairs paid in advance 700 500 Proceeds from the Independence fair are to be utilized for construction of a tennis court. The following accounts are required a Trading Account for the Canteen for the year ended 30, lune 2020, 9 marks) b. Trading Account for the independence Fair for the year ended June 30, 2020 (9 marks) b. Income and Expenditure Account for the year ended 30 June 2020. (15 marks) c Balance sheet as at 30 June 2020. (19 marks) Additional Marks (workings 31 marks) Total 74 marks MARK SCHEME Mark (s) (s) 1 3 2 147 6 Cover Sheet Title Page Introduction Table of contents Content Reference (APA, include in text citation) Page number Font size 1 Headings Bibliography Grammar Organization Management report TOTAL 1 175