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Miniville Rotary Club Receipts and Payments Account for the year ended 31 July 20X9 Cash and bank balances b/d Sales of competition tickets Members'
Miniville Rotary Club Receipts and Payments Account for the year ended 31 July 20X9 Cash and bank balances b/d Sales of competition tickets Members' subscriptions Donations Refund of rent Balance c/d 210 Secretarial expenses E 163 437 Rent 1,402 1,987 Visiting speakers' expenses 1,275 177 Donations to charities 35 500 Prizes for competitions 270 13 Stationery and printing 179 3,324 3,324 The following valuations are also available: as at 31 July 20X8 20X9 Equipment (original cost 1,420) 975 780 Subscriptions in arrears 65 85 Subscriptions in advance 10 37 Owing to suppliers of competition prizes 58 68 Stocks of competition prizes 38 46 Required: (a) Calculate the value of the accumulated fund of the Miniville Rotary Club as at 1 August 20X8. (b) Reconstruct the following accounts for the year ended 31 July 20X9: (i) the subscriptions account, (ii) the competition prizes account. (c) Prepare an income and expenditure account for the Miniville Rotary Club for the year ended 31 July 20X9 and a balance sheet as at that date.
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