The Albion Rowing Club prepares its accounts annually on 31 March. The summary of the Receipts and Payments Account for the year ended 31 March 2016 is shown below. Receipts Balance b/d 3 000 Subscriptions received 84 400 Competition receipts 12 200 Dinner dance ticket sales 14 000 Donations 1 500 Sale of equipment 24 000 ne Payments Competition prizes Dinner dance - hire of band Dinner dance - catering Insurance Clubhouse maintenance Equipment General expenses Electricity Transfer to deposit account 3 100 2 400 5 200 9 800 10 300 46 000 30 200 1 600 20 000 Additional information: 1 The remaining assets and liabilities of the club at the beginning and end of the year were: 1 April 2015 31 March 2016 Clubhouse Equipment General expenses owing Subscriptions due and unpaid 150 000 160 000 800 2 600 150 000 140 000 400 3 100 Subscriptions paid in advance Stock of competition prizes Deposit account 6 300 800 4 500 300 20 000 2 During the year equipment with a book value of $26 000 was sold for $24 000. W Of the subscriptions due on 1 April 2015, $280 remains unpaid. This is to be treated as a bad debt. A On 1 October 2015, $20 000 was transferred from the Receipts and Payments Account to a short-term deposit account. This transfer is shown in the summarised Receipts and Payments Account above. Interest of 5% per annum is earned on the deposit account. This interest has not yet been recorded. (a) Prepare the subscriptions account for Alfred Rowing Club for the year ended 31 March 2016. (b) Prepare the income and expenditure account for Alfred Rowing Club for the year ended 31 March 2016. Clearly identify the profit or loss on the dinner dance and competitions. (c) Prepare the statement of financial position for Alfred Rowing Club at 31 March 2016. The Albion Rowing Club prepares its accounts annually on 31 March. The summary of the Receipts and Payments Account for the year ended 31 March 2016 is shown below. Receipts Balance b/d 3 000 Subscriptions received 84 400 Competition receipts 12 200 Dinner dance ticket sales 14 000 Donations 1 500 Sale of equipment 24 000 ne Payments Competition prizes Dinner dance - hire of band Dinner dance - catering Insurance Clubhouse maintenance Equipment General expenses Electricity Transfer to deposit account 3 100 2 400 5 200 9 800 10 300 46 000 30 200 1 600 20 000 Additional information: 1 The remaining assets and liabilities of the club at the beginning and end of the year were: 1 April 2015 31 March 2016 Clubhouse Equipment General expenses owing Subscriptions due and unpaid 150 000 160 000 800 2 600 150 000 140 000 400 3 100 Subscriptions paid in advance Stock of competition prizes Deposit account 6 300 800 4 500 300 20 000 2 During the year equipment with a book value of $26 000 was sold for $24 000. W Of the subscriptions due on 1 April 2015, $280 remains unpaid. This is to be treated as a bad debt. A On 1 October 2015, $20 000 was transferred from the Receipts and Payments Account to a short-term deposit account. This transfer is shown in the summarised Receipts and Payments Account above. Interest of 5% per annum is earned on the deposit account. This interest has not yet been recorded. (a) Prepare the subscriptions account for Alfred Rowing Club for the year ended 31 March 2016. (b) Prepare the income and expenditure account for Alfred Rowing Club for the year ended 31 March 2016. Clearly identify the profit or loss on the dinner dance and competitions. (c) Prepare the statement of financial position for Alfred Rowing Club at 31 March 2016