QUESTION4 On 1 January 2003 The Newport Basketball Club had the following assets Cash at Bank Bar stocks Club house buildings Equipment 500 2,500 20,200 1,500 During the year to 31 December 2003 the club received and paid the following amounts Receipts Payments Balance, 1.1. 2003 Bar sales Entrance fees Subscription (2003) Profit on dances Donations Profit on refreshments Collection at matches 500 9,500 600 4,500 650 1,625 1,100 975 Secretarial expenses rent of rooms Prizes for competitiorn Purchase of equipment Repairs to equipment Purchases of bar supplies Groundsman's wages Miscellaneous expenses Balance at 31. 12. 2003 275 1,200 800 3,000 700 5,300 520 230 7,425 19,450 19,450 Further information: 1. Stock at 31 December, 2003 valued at $1,300 2. Subscription owing at 31 December 2003, $425 3. Rent prepaid at 31 December 2003, S125 4. Depreciate buildings by 10% and equipment by 20% of value at 31.12.2003. Required: 1. Calculate the Accumulated Fund at 1 January, 2003 2. Prepare the Bar Trading Account 3. Prepare the Income and Expenditure Account 4. Prepare the Balance Sheet