QUESTION 1
The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows 145
		USD
Accumulated fund (1/06/2019)		41205600
Massage Palour inventory at beginning (1/06/2019)		7857000
Massage Palour Purchases		14782800
Building (Cost)		37306200
Equipment (Cost)		4656000
Furniture and fittings (Cost)		2910000
Subscriptions		3492000
Affiliation Fees		436500
Savings Account		9894000
Venue of the "Weekend in Paradise Trip"		203700
Executive Mens Club Entrance fees		349200
Massuer's Wages and Salaries		1455000
Accumulated Depreciation	Building	14922480
	Equipment	1164000
	Furniture and Fittings	291000
Salaries		1396800
Rent		558720
"Weekend in Paradise Trip" expenses		349200
Administrative expenses		1012680
Interest on Savings account		552900
Sale of "Weekend in Paradise Trip" tickets		4423200
Bank account (Current)		7275000
Donation for "Weekend in Paradise Trip"		1076700
Revenue from Massage Palour		22116000
Life membership fees		1076700
Utilities		576180
		181339560
Additional Information
1. Massage Palour inventory (31st May 2020)		1571400
2. Subscription paid in advance by member for the year 2020/2021		698400
3. Depreciation : Building 2% per annum, Equipment 25% 10% per annum
4. Interest on saving includes an amount from the 2018/2019 year		29100
5. Affiliation fees was paid for the next 3 years on 1 June 2019
6. Utilities were prepaid at the end of the year		81480
7. Salaries were accrued at the end at the end of the year		116400
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
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.