Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 (20 marks) The Financial Treasurer of UNAM Fun Club has presented the following records UNAM Fun Club Receipts and Payments Account For the

image text in transcribed

Question 3 (20 marks) The Financial Treasurer of UNAM Fun Club has presented the following records UNAM Fun Club Receipts and Payments Account For the year ended 31 December 2016 2016 NS 2016 01/1 Balance bf 4900 01/1 Rent and rates Membership subscriptions 5 760 Social activities Membership fees 840 Bar purchases Bar receipts 7 500 Bar wayes Other receipts 3 800 General wages Equipment Electricity expenses Postage and telephone Bank charges Insurance 31/12 Balance bid 22 800 2017 01/1 Balance bif 4752 NS 804 3.000 3580 1104 2 560 5720 208 352 116 604 4752 22 800 The following additional information is available: 31/12/15 NS 31/12/16 NS Funiture and fittings Har inventories Subscription in areas General wages owing Subscriptions in advance Insurance prepaid 2840 1420 120 4 400 1 040 80 180 400 136 180 Depiliin ur 20% is to be written off equipment on the straight line method. Required: 2.1 UNAM Pun Club Burleent of prolit and Loss (6) 3.2 Income and Expenditure Account for UNAM Fan Club for the vear enda vam 2010 (14)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Governmental and Nonprofit Accounting

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

10th edition

132751267, 978-0132751261

Students also viewed these Accounting questions