Question 4

The following is a list of assets and liabilities of Cerdik Club for the year ended 30 June 2009 and 2010.

	YEAR 2009 RM	YEAR 2010 RM
Inventories (Clever CyberCafe)	5900	6300
Account payable (Clever CyberCafe)	4900	10800
Subscription in arrears	6200	5200
Subscription in advance	3700	6400
Bank	7300	?
Computers (at net book value)	15200	?
Accrued electricity	200	-

Additional Information:

1. Cerdik Club operates a cyber caf, Clever CyberCafe to generate an additional income to the club.
2. In the year ended 30 June 2010, the total cash sales of Clever CyberCafe is RM42,000 and the cash purcahses is RM5100.
3. On 4 January 2010, Cerdik Club purchased new office furniture at a cost of RM6500. Depreciation on office furniture is at 10% per annum on cost.
4. The computer are to be depreciated at 20% per annum using the reducing balance method.

5. The expenses paid during the year ended 30 June 2010;	RM
Payment to account payables (cybercaf)	10200
Donations	7300
General expenses	2600
Electricity	4600
Wages cybercaf staff	13600

6. The general expenses and electricity are to be apportioned in the ratio of 2:3 to Cerdik

Club and cybercaf respectively.

7. Total subscription fees received during the year ended 30 June 2010 are RM45,000.
8. Life membership fees are charged at RM500 per number and during the year ended 30 June 2010, 15 members had paid for this scheme. The life membership fees are to be spread evenly for over 20 years.

Required:

1. The receipt and payment account for the year ended 30 June 2010.
2. The statement of Affairs as at 30 June 2009.
3. The Income Statement of Clever Cybercafe for the year ended 30 June 2010.
4. The Income and Expenditure account of Cerdik Club for the year ended 30 June 2010.
5. Statement of Financial Position (balance sheet) as at 30 June 2010.