QUESTIONS * Question One GTUC Level 200 Social Club have been asked as the Account Expenditure account for the year Financial Position as at that date from the owners to determine the true state of the Club's perfor 1. Summary 31/12/2011 evel 200 Social Club is facing financial difficulties and as a result you asked as the Account of the Club to prepare the Income and account for the year ended 31/12/2011 and a Statement of llowing information in order for the nary of the Receipts and Payments account for the year ended Receipts Balance b/f Entrance Fees Donation Subscription Interest on Investment GH 25.000 Bank Deposit 9,100 Wages and Salaries 2.100 Stationery 49,800 Telephone 1,800 Admin. Expenses Rent and Rates Balance c/d 87.800 Payments GH 30,000 12,000 1,255 345 3,000 13,200 28.000 87,800 a. Subscription as at 01/01/2011 was GH200 b. Rent owing at the beginning of the year amounted to GH1,200 C. Assets balances as at 01/01/201lis as follows: i. Bank Deposit GH60,000 ii. Equipment GH24,000 d. Equipment should be depreciated at 5% per annum