QUESTION 1
The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows
GHS
Accumulated fund (1/06/2019)	6655200
Massage Palour inventory at beginning (1/06/2019)	1269000
Massage Palour Purchases	2387600
Building (Cost)	6025400
Equipment (Cost)	752000
Furniture and fittings (Cost)	470000
Subscriptions	564000
Affiliation Fees	70500
Savings Account	1598000
Venue of the "Weekend in Paradise Trip"	32900
Executive Mens Club Entrance fees	56400
Massuer's Wages and Salaries	235000
Accumulated Depreciation	Building	2410160
Equipment	188000
Furniture and Fittings	47000
Salaries	225600
Rent	90240
"Weekend in Paradise Trip" expenses	56400
Administrative expenses	163560
Interest on Savings account	89300
Sale of "Weekend in Paradise Trip" tickets	714400
Bank account (Current)	1175000
Donation for "Weekend in Paradise Trip"	173900
Revenue from Massage Palour	3572000

Life membership fees	173900
Utilities	93060
29288520
Additional Information
1. Massage Palour inventory (31st May 2020)	253800
2. Subscription paid in advance by member for the year 2020/2021	112800
3. Depreciation : Building 2% per annum, Equipment 25% 10% per annum
4. Interest on saving includes an amount from the 2018/2019 year	4700
5. Affiliation fees was paid for the next 3 years on 1 June 2019
6. Utilities were prepaid at the end of the year	13160
7. Salaries were accrued at the end at the end of the year	18800
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.