Task 15

Prepare Members Subscriptions account in running balance format.

Members Subscriptions
Date	Details	Debit	Credit	Balance	Dr/Cr
1/6/2020

General Intormation \& Policy and Procedures - The membership fee is paid annually. This is not expected to change in the near future. - The club is not registered for GST. The land on which the club is located is owned by the council. The council has also provided the courts, and beyond upkeep and maintenance, there is no charge to the club. - The clubhouse is also owned by the council. The rent is $1,000 per month. The club is responsible for maintenance and minor repairs. Major repairs are paid by the council. - The asset, Machinery comprises lawnmowers, line markers and power cleaner. - The asset, Equipment comprises computer equipment, coffee machine and food preparation equipment and games machines. - Review statements for errors and compliance with accounting standards and organisational procedures and amend if necessary. - Check internal and external financial data provided to confirm their consistency and accuracy. 02Financial Information for the financial year 2021 - The value of food and drink stock on June 30, 2021, was $4,320. - Bar Wages paid for bar staff of the year 2021 were $22,140 - Accounts payable (for electricity and gas) on June 30, 2021, amounted to $220. The balance owing at the start of the year was also for electricity and gas. - Depreciation expense to be added on assets is $7,500 for machinery, $7,700 for equipment ( $4,500 of which was for bar kitchen equipment), and $320 for furniture. - Kitchenware is not depreciated. Replacement of broken kitchenware is accounted for as an expense. Summary of Receipts and Payments for the year ended June 2021 Task 14 After checking all sources of data provided for its accuracy and consistency, prepare the Statement of Receipts and Payments for the year ended June 30,2021 After checking all sources of data provided for its accuracy and consistency, prepare the Statement of Receipts and Payments for the year ended June 30, 2021 General Intormation \& Policy and Procedures - The membership fee is paid annually. This is not expected to change in the near future. - The club is not registered for GST. The land on which the club is located is owned by the council. The council has also provided the courts, and beyond upkeep and maintenance, there is no charge to the club. - The clubhouse is also owned by the council. The rent is $1,000 per month. The club is responsible for maintenance and minor repairs. Major repairs are paid by the council. - The asset, Machinery comprises lawnmowers, line markers and power cleaner. - The asset, Equipment comprises computer equipment, coffee machine and food preparation equipment and games machines. - Review statements for errors and compliance with accounting standards and organisational procedures and amend if necessary. - Check internal and external financial data provided to confirm their consistency and accuracy. 02Financial Information for the financial year 2021 - The value of food and drink stock on June 30, 2021, was $4,320. - Bar Wages paid for bar staff of the year 2021 were $22,140 - Accounts payable (for electricity and gas) on June 30, 2021, amounted to $220. The balance owing at the start of the year was also for electricity and gas. - Depreciation expense to be added on assets is $7,500 for machinery, $7,700 for equipment ( $4,500 of which was for bar kitchen equipment), and $320 for furniture. - Kitchenware is not depreciated. Replacement of broken kitchenware is accounted for as an expense. Summary of Receipts and Payments for the year ended June 2021 Task 14 After checking all sources of data provided for its accuracy and consistency, prepare the Statement of Receipts and Payments for the year ended June 30,2021 After checking all sources of data provided for its accuracy and consistency, prepare the Statement of Receipts and Payments for the year ended June 30, 2021