please explain what each adjustment is

QUESTION FOUR Zacks is a treasurer of the Rugby club whose main source of income are donations from wellwishers, members' subscriptions and fundraising activities of different types including running a bar on a smaller scale to raise funds for small operational needs. The following receipts and payments summary has been presented to you by the treasurer from the club's bankers as of the 314 of December onD. The following information is provided to you by the treasurer (i) The club had cash at the bank on 1 January 2021 amounting to K36,720. The closing bank balance is to be determined by you. (ii) The club's inventory in the bar was K8,760 and K9,870 on 1 January 2021 and 31 December 2021 whereas suppliers of bar purchases were owed K16,320 and K19,920 on 1 January 2021 and 31 December 2021 respectively. (iii)The treasurer has advised you that the club had, on 1 January 2021, rent and rates prepaid of K2,100 and bar expenses owing of K384, the same having been K2,880 and K528 respectively on 31 December 2021 . (iv) The treasurer has further narrated to you that subscription in advance amounted to K660 on 1 January 2021 while subscription in arrears were K5,940 on 31 December 2021. (v) The following is a summary of the club's non-current assets at the beginning and at the year-end: - Office furniture is depreciated at the rate of 10% per annum straight line - Sports equipment is depreciated at 20% per annum straight line. (vi) The club's bar does not sell anything on credit. Required: (a) Prepare a bar trading account for the ciub for the year ended 31 December 2021. [3 marks] (b) Prepare the Income and Expenditure account for the club for the year ended 31 December 2021. [7 marks] (c) Prepare a statement of financial position as at 31 December 2021. [10 marks] [Total: 20 Marks]