Question 5 The Bess Social Club provided the following information. 1 June 2018 31 May 2019 $ Accumulated fund 35 393 To be calculated Equipment Cost 47 400 To be calculated Accumulated depreciation 24 300 To be calculated Bank deposit 150 000 Cash at bank 2 335 1 293 Inventory 15 880 19 005 Subscriptions in advance 858 1 200 Subscriptions in arrears 450 546 Trade payables 5 514 4740 On 1 March 2019 equipment that had cost $12 000 with a carrying value of $5 600 was sold. On 1 April 2019 equipment was purchased for $1 350 Equipment is depreciated at 20% per annum using the straight line method. Depreciation is charged for each month of ownership During the year ended 31 May 2019 the club received $32 226 for subscriptions and a donation of $150 000 (a) Prepare the subscriptions account for the year ended 31 May 2019. Balance the account on this date and bring the balance down on 1 June 2019. (b) Calculate at 31 May 2019 for equipment: Cost $ Depreciation charge $ Accumulated depreciation $ (c) Prepare the statement of financial position at 31 May 2019