The following balances were obtained from the accounting records of Duncan Chess Club for the year ending 31 December 200Y: Additional information: 1. Six new members joined the club during the year. Entrance fees of R260 per member are included in the amount of membership fees received and must be capitalised. 2. Membership fees accrued on 31 December \\( 200 \\mathrm{Y} \\) : R1 040 Membership fees received in advance on 31 December 200Y: R1 690 3. Inventory on hand on 31 December \\( 200 \\mathrm{Y} \\) : Refreshments R390 4. The capital portion of the Matel Maintenance Fund has been invested at Capex Finance and earns interest at \8 p.a. The income may only be used for the maintenance of the club buildings. Income not expended must be reinvested. 5. Depreciation on furniture must still be provided for at \10 p.a. according to the reducing balance method. 6. The bank account had an unfavourable balance of R1 755 on 1 January \\( 200 \\mathrm{Y} \\). You are required to: 1. Prepare the following general ledger accounts for the year ending 31 December \\( 200 \\mathrm{Y} \\) and close them off properly: Matel maintenance fund; Accumulated fund; Investment; Bank: Interest on investment; and Maintenance: Buildings. 2. Prepare the trading statement for refreshments for the year ending 31 December \\( 200 \\mathrm{Y} \\). 3. Prepare the statement of receipts and payments for the year ending 31 December \\( 200 Y \\). 4. Prepare the statement of income and expenditure for the year ending 31 December \\( 200 \\mathrm{Y} \\). 5. Prepare the statement of changes in funds for the year ending 31 December \\( 200 \\mathrm{Y} \\). 6. Prepare the statement of financial position on 31 December \\( 200 \\mathrm{Y} \\). NB: Round off to the nearest rand. The suggested solution will be discussed during the next contact session. If you experience difficulty in completing the assignment, review this chapter again