QUESTION 1 The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows Accumulated fund (1/06/2019) GHS 18832800 Massage Palour inventory at beginning (1/06/2019) 3591000 Massage Palour Purchases 6756400 Building (Cost) 17050600 Equipment (Cost) 2128000 Furniture and fittings (Cost) 1330000 Subscriptions 1596000 Affiliation Fees 199500 Savings Account 4522000 Venue of the "Weekend in Paradise Trip" 93100 Executive Mens Club Entrance fees 159600 Massuer's Wages and Salaries 665000 Accumulated Depreciation Building Equipment Furniture and Fittings 6820240 532000 133000 638400 Salaries Rent 255360 "Weekend in Paradise Trip" expenses 159600 Administrative expenses 462840 Interest on Savings account 252700 Accumulated Depreciation Building Equipment Furniture and Fittings 6820240 532000 133000 638400 Salaries Rent 255360 "Weekend in Paradise Trip" expenses 159600 Administrative expenses 462840 Interest on Savings account 252700 Sale of "Weekend in Paradise Trip" tickets 2021600 Bank account (Current) 3325000 Donation for "Weekend in Paradise Trip" 492100 Revenue from Massage Palour 10108000 Life membership fees 492100 Utilities 263340 82880280 Additional Information 1. Massage Palour inventory (31st May 2020) 718200 Life membership fees 492100 Utilities 263340 82880280 Additional Information 1. Massage Palour inventory (31st May 2020) 718200 2. Subscription paid in advance by member for the year 2020/2021 319200 3. Depreciation : Building 2% per annum, Equipment 25% 10% per annum 4. Interest on saving includes an amount from the 2018/2019 year 13300 5. Affiliation fees was paid for the next 3 years on 1 June 2019 6. Utilities were prepaid at the end of the year 37240 7. Salaries were accrued at the end at the end of the year 53200 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