QUESTION 3 50 MARKS The Katutura Theatre Club has been in existence for several years. Members pay annual subscription fee of N$ 120, which allow them to join trips to professional productions at a reduced rate. On the 31 May 2020, the club's assets and liabilities were as follows: Motor vehicle valued at N$ 14 500, Office equipment valued at 2 800, Cash on hand N$ 80, Bank balance N$ 3 100 (overdrawn), Saving with Swabou N$ 100, Subscription in arrears N$ 1 260, Bar Creditor N$ 2 440 and Subscription received in advance N$ 200. The club is also running a bar to raise more funds for the club activities. 1 060 The following information occurred throughout - 31 May 2021. Receipts Subscriptions received through the bank For year ended 31 May 2020 For year ended 31 May 2021 For year ended 31 May 2022 570 Bar Sales Donation Received 12 900 9800 1 600 Payments Payment for bar supplies 5 200 6 300 1 220 810 960 750 460 Wages: Club Manager Wages: Bar lady Bar expense Repairs theatre building Theatre secretary expense Transport expense for club members Club telephone expense The following information as at 31 May 2021 Bar Inventory Drawings by members Bar supplies - Owing Depreciation expense: Motor Vehicle Depreciation expense: Office equipment 180 1 380 11 400 1 390 600 250 Page 21 of 22 REQUIRED 03 Marks 12 Marks Calculate accumulated capital as at 31 May 2020 Prepare bar trading as at 31 May 2021 Prepare income and expenditure statement as at 31 May 2021 Prepare statement of financial position as at 31 May 2021 17 Marks 18 Marks