QUESTION FOUR The following is a summary of the receipts and payments of Bonanza Golf club during the year ended 31 December 2019. Bonanza Golf Club Receipts and Payments Account for the year ended 31 December 2019 Cash and bank balances b/d 630 Secretary expenses 489 Sales of competition tickets 1,311 rent 4,206 Members subscription 5,961 Visible speakers expenses 3,825 Donations 531 Donations to charities 105 Refund of rent 1,500 Prizes for competitions 810 Balance cld 39 Stationery and printing 537 9.972 9.972 2019 2018 2,340 2,925 Additional Information: As at 31 December Equipment (original cost K4,260) Subscription in arrears Subscription in Advance Owing to suppliers of competition prizes Inventory of completion prizes 255 195 111 30 204 174 138 114 Required: a) Calculate the value of the accumulated fund of Bonanza Golf Club as at 31 December 2018 [8 Marks) b) Reconstruct the following accounts for the year ended 31 December 2019. i) The subscription account [6 Marks) ii) The competition prizes account [6 Marks] [Total: 20 Marks)