PEACOS ESSENTIALS OF FINANCIAL ACCOUNTING 4 JUNE 2020 QUESTION 2 The following is the receipt and payment account of Winbi Society for the year ended 31 December 2019 Winbi Society Receipts and Payment Account For the year ended 31 December 2019 Balance bid Subscription Fees from non-members Profit from fundraising activities Charity auction sales Profit from sale of books Donation for building fund Interest received RM 5,050 Salaries 1,560 Travelling expenses 385 Rental expenses 8,800 Stationery expenses 1,700 Purchase of machinery 390 Cleaning expenses 1.650 Machinery expenses 40 Miscellaneous expenses Balance cld 19.575 16,955 RM 690 350 365 250 800 80 50 35 16.955 19.575 Balance b/d Additional information: 1) A donation of RM 185 received for building fund was mistakenly included in subscription account 2) Depreciation for the machinery is to be provided at the rate of 10% per annum Required: Prepare the income and expenditure account for the year ended 31 December 2019. (Total 25 marks)