The following is a summary of the receipts and payments of Lusaka Golf club during the year ended 31.07.2016 Lusaka Golf Club Receipts and Payments Account for the year ended 31.07.2012 K Cash and bank balances b/d Sales of competition tickets Members' subscription Donations Refund of rent Balance cld 210 | Secretary expenses 437 rent 1,987 Visible speakers expenses 177 Donations to charities 500 Prizes for competitions 13 Stationery and printing 3.324 163 1.402 1,275 35 270 179 3,324 2016 The following valuations are also available: As at 31 July. 2015 Equipment (original cost K1, 420) K975 K780 Subscription in arrears K65 Subscription in Advance Owing to suppliers of competition prizes Inventory of completion prizes K38 Required: a) Calculate the value of the accumulated fund of Lusaka Golf Club as at 1.08.2015 K 10 K 58 K85 K37 K68 K 46 [10Marks) b) Reconstruct the following accounts for the year ended 31.07.2012 i) The subscription account ii) The competition prizes account