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that's all The following is a summary of the receipts and payments of Company A during the year ended 31 July 2019. Company A Receipts
that's all
The following is a summary of the receipts and payments of Company A during the year ended 31 July 2019. Company A Receipts and Payments Account for the year ended 31 July 2019 Cash and bank balance b/d S 210 Secretarial expenses $ 163 Sales of competition tickets $ 437 Rent $1,402 Members' subscriptions $1,987 Visiting speakers' expenses $1,275 Donations $ 177 Donations to charities $ 35 Refund of rent $ 500 Prizes for competition $ 270 Balance cid S 13 Stationery and printing $ 179 $3.324 $3.324 The following valuations are also available as at 31 July Equipment (original cost $1420) Subscriptions in arrears Subscriptions in advance Owing to suppliers of competition prizes Stocks of competition prizes 2018 5975 S 65 S 10 S 58 S 38 2019 $780 $ 85 $ 37 $ 68 $ 46 Required: a. Calculate the value of the accumulated fund of Company A as at 1 August 2018, b. Prepare an income and expenditure account for Company A for the year ended 31 July 2019 and a balance sheet as at that dateStep by Step Solution
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