QUESTION TWO (30 marks) A Country Club has the following transactions for the year ended 31 Mar 2019. 6,000 35,000 39,000 30,000 4,500 3,000 Refreshment purchases Refreshment takings Subscription received for the year Life membership fee received for the year Rent and rates Refreshment stocks as at 1 Apr 2018 Refreshment stocks as at 31 Mar 2019 Equipment at cost Lighting and heating Donations for the year Advertising & promotion Wages & salaries Cash and bank Furniture at cost Accumulated depreciation of Furniture as at 1 Apr 18 Accumulated fund as at 1 Apr 2018 Creditors for refreshment supplies 2,000 40,000 1,500 2,000 2,500 11.100 37,800 17,500 2,500 12,900 2,500 Additional information need to be considered: Y 1. Subscription for the year has not yet received as at 31 Mar 2019 - $1,000. 2. Provide depreciation for equipment and furniture on straight-line basis. Their useful lives assume 5 years and residual value at the end of useful lives 3. 4. will be $5,000 each Not yet paid wages of $900 as at 31 Mar 2019. Life membership assumes 10 years. Use the information to prepare the following information: a) Refreshment Profit and Loss account for the year ended 31 Mar 2019 (3.5 marks) b) Income and Expenditure Account for the year ended 31 Mar 2019 (14 marks) c) Balance Sheet as at 31 Mar 2019 (12.5 marks)