Question 1 Ebony football club is located in the Ahafo region in Ghana. The Accountant of the club for the year ended 31/12/2019 presents the cash records as set below: RECEIPTS PAYMENT GHS GHS Bal at bank 1/1/2019 ? Rent of premises 13,000 Sundry expenses 700 Sale of computers 37,200 Travelling expenses 7,000 Donation 10.950 Refreshment supplies 14,400 Postage & stationary 8,200 Profit from rally 11.760 New computers 30,000 Refreshment Income 136.000 Wages of secretary 19,050 Subscription received 24,590 Balance 31/12/2019 201,000 Additional information: a) Subscription owing by members @31/12/2019 was GHS 6,200 b) The rent is paid up to 31/12/2020 c) Refreshment inventory was valued: 1/1/2019 at GHS2,000 d) Non-current assets are depreciated at 20% per annum e) Refreshment barman salary for the year accrued GHS 6,000 1) At 1/1/2019 the club's computer was of value @ GHS 22,400 Required: i) ii) Estimate the missing figure in the receipts and payment account i.e. Bank Balance at the beginning of the year (2 marks) Estimate the accumulated fund as at 1/1/2019 (2 marks) Draw up a Refreshment Trading Account for the Club for the year ending 31/12/2019 (2 marks) iv) Prepare the income and Expenditure Account for the year ending 31/12/2019 (8 marks) Distinguish between Capital and Revenue Expenditure (2 marks) (Total = 16 marks) v)