Question 1 The Genting Kelang Golf Club commenced its operation on 1 January 2018. A year after its operation, the club's treasurer has presented the Receipts and Payments Book for your inspection Receipts and Payments Account for the year ended 31 December 2018 RM Entrance fees: new members 17,000 10,800 RM Rent Subscription for 2018 Subscription for 2019 Bar takings Hire charges received Interest from fixed deposit 68,000 3,800 72,800 7,000 300 Printing and stationery Wages and salaries General expenses Bar expenses Newspaper and periodicals 5,500 18,700 7,700 7,200 1,200 Sundries receipts Contribution by committee 1,300 14,400 Equipment Fixture and fittings 20,000 35,000 Fixed deposit Bar suppliers Open a bank current account 16,000 57,200 3,000 1 You have been approached by the club's treasurer for help. In addition to the above information in the Receipts and Payments Account the club's treasurer has provided the following additional information as at 31 December 2018 Members still not yet paid RM 1,000 for the hire of equipment 2. Bar suppliers outstanding as at 31 December 2018 amounted to RM3,600 3. Accrued general expenses is RM7,200 4. The annual depreciation rate for equipment is 20% and 10% for fixture and fittings 5. There are bar inventaries as at 31 December 2018 amounted to RM2,000 Required: (a) Prepare a Bar Trading Account for the year ended 31 December 2018, (b) Income and Expenditure Account for the year ended 31 December 2018