Question 2 (20 marks) A summary of the cash transactions of Sekonde Club for the year ended 31st December, 2000 was as follows; GHC Balance b/d 46,500 Membership Subscription 132,500 Bar Sales 600,000 Sales of party Tickets 112,500

901,500

GHC Party Expenses 52,500 Stationery 31,500 Bar Expenses 21,000 Administrators Expenses 5,750 Office Equipment 80,000 Bar Purchases 400,000 Office Expenses 89,500 Travelling Expenses 75,000 Office Rent 20,000 Processing Fee 10,000 Balanced c/d 115,000 901,500

The following information is relevant Assets and Liabilities of the Club was as follows; 31/12/2000 01/01/2000 GHC GHC Office Equipment - 70,000 Furniture - 60,000 Bar Stock 49,000 34,000 Owings to Bar Suppliers 38,750 30,000 Subscription in Advance 5,000 4,000 Subscription in Arrears 26,000 20,000 Office Equipment is to be depreciated at 20% on cost and Furniture at 15% on cost. You have been appointed as a financial consultant to Show-Man-Show club to assist them in restructuring their finance. Explain to the executives the types of accounts they are to prepare at the end of the period and if it is different from the partnership Accounts. (10 Marks) Hi expert, please answer this question with the utmost expertise. I posted this question earlier but nobody seems to mind me.