The following are the Assets and Liabilities of Tabua Sports Club at 30th June 2021:

Assets $

Cash at bank 3400

Subs due 216

Sports equipment 480

Stock of stationery 80

Furniture 1200

Sports pavilion 4000

Liabilities:

Subs in advance 576

Accumulated funds ??

An analysis of the treasurers cash book reveals the following information in respect of the year ended 30th June 2021.

Receipts $ Payments $

Subs: Wages caretaker 1600

Current year 2800 Electricity 96

Previous year 180 Purchase of sports equipment 200

Next year 80 Affiliation fees 60

Sale of dance tickets 560 Match expenses 88

Sale of furniture (Cost $200) 380 Hire of hall for dance 260

Hire of band 128

Refreshments at dance 64

Purchase of investment 2000

Stationery 192

Additional Information:

a. Stock of stationery at 30th June 2021 is $100.

b. Repairs to pavilion invoiced but not paid $156.

c. Hire of band unpaid at balance day $ 72.

d. Depreciation on pavilion to be provided at 10% per annum on cost.

e. Subscription in arrears $52.

You are required to prepare the following:

1. Subs Account (5 marks)

2. Income and Expenditure Account (10 marks)

3. Balance Sheet as at 30th June 2021 (10 marks)