QUESTION 1 The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows Accumulated fund (1/06/2019) GHS 25912800 Massage Palour inventory at beginning (1/06/2019) 4941000 Massage Palour Purchases 9296400 Building (Cost) 23460600 Equipment (Cost) 2928000 Furniture and fittings (Cost) 1830000 Subscriptions 2196000 Affiliation Fees 274500 Savings Account 6222000 Venue of the "Weekend in Paradise Trip" 128100 Executive Mens Club Entrance fees 219600 Massuer's Wages and Salaries 915000 Accumulated Depreciation Building Equipment Furniture and Fittings 9384240 732000 183000 878400 Salaries Rent 351360 "Weekend in Paradise Trip" expenses 219600 Administrative expenses 636840 Interest on Savings account 347700 Sale of "Weekend in Paradise Trip" tickets 2781600 Bank account (Current) 4575000 Donation for "Weekend in Paradise Trip" 677100 Revenue from Massage Palour 13908000 677100 Life membership fees Utilities 362340 114038280 Additional Information 988200 439200 18300 1. Massage Palour inventory (31st May 2020) 2. Subscription paid in advance by member for the year 2020/2021 3. Depreciation : Building 2% per annum, Equipment 25% 10% per annum 4. Interest on saving includes an amount from the 2018/2019 year 5. Affiliation fees was paid for the next 3 years on 1 June 2019 6. Utilities were prepaid at the end of the year 7. Salaries were accrued at the end at the end of the year 8. Parker Exclusive Mens Club organised a "Weekend in Paradise Trip" for its members during the year 9. The Parker Exclusive Mens Club is affiliated to the International Association of Executive Clubs 51240 73200 REQUIRED: 1. Prepare an Income and Expenditure Statement and a Statement of Financial Position for the 2019/2020 Financial year 2. Use the information in 1. to fill the attached excel form