The following is the receipts and payments account of Uwezo Football Club for the year ended 30 September 2015: Receipts and payments account. Sh."000" Receipts Balance brought forward - Bank Subscriptions Entrance fees Donations Bar receipts Cash 5,096 130 12,000 1,160 8,024 57,610 Payments Bar purchases Rent and rates Telephone expenses Water and electricity Stationery expenses Salaries and wages Coach's fee Sh.4000" 43,028 3,304 308 734 364 11,170 3,000 2,244 224 Field expenses General expenses A Lawn mower Balance carried forward Bank 4,400 14,082 Cash 02 84.020 84.020 Additional information: 2. The following balances were available: 30 September 2014 30 September 2015 Sh."000" Sh."000" Subscriptions in arrears 300 350 Rent due 240 280 Rates pre-paid Bar payables 320 500 360 820 CA11 & CF11 Page: Out of 4 4. 5. 6. 7. The bar inventory was valued at Sh.828,000 as at 30 September 2014 and Sh.710,000 as at 30 September 2015. On 30 September 2014, the values of non-current assets were as follows: Club house Fixtures Equipment Sh.-000" 60.000 15,000 11.200 The new lawn mower was purchased during the year ended 30 September 2015 at a cost of Sh.5,000,000. The difference between the actual cost and the amount reflected in the receipts and payments account, is a trade-in- allowance of Sh.600,000. The old lawn mower which was traded-in-exchange for the new lawn mower had been included in the cost of equipment at 30 September 2014 at a value of Sh.400,000. Depreciation is charged for a full year irrespective of date of purchase. No depreciation is charged in the year of disposal. Depreciation is to be provided as follows: Asset Club house Fixtures Equipment equired: 2% on cost Rate per annum 10% on cost 20% on reducing balance Bar income statement for the year ended 30 September 2015. Income and expenditure account for the year (4 marks) Subscriptions Entrance fees Donations Bar receipts Bank Cash 5,096 130 12,000 1,160 8,024 57.610 Payments & Dar purchases Rent and rates) Telephone expenses Water and electricity Stationery expenses Salaries and wages. Coach's fee Sh.1000 43.625 3,204 308 734 364 11.170 Field expenses General expenses 3,000 2,244 724 A Lawn mower 4,400 Balance carried forward Bank 14,082 Cash 62 84.020 84.020 Additional information: 1. The following balances were available: 30 September 2014 30 September 2015 Sh."000 Sh."000" Subscriptions in arrears 300 350 Rent due 240 280 Rates pre-paid Dar payables 320 500 360 820 CA11 & CF11 Page 2 Out of 4 The bar inventory was valued at Sh.828,000 as at 30 September 2014 and Sh.710.000 as at 30 September 2015. On 30 September 2014, the values of non-current assets were as follows: 4. 5. 6. 7 Club house Fixtures #Equipment Sh.-000" 60.000 15,000 11.200 The new lawn mower was purchased during the year ended 30 September 2015 at a cost of Sh.5.000.000. The difference between the actual cost and the amount reflected in the receipts and payments account, is a trade-in- allowance of Sh.600,000. The old lawn mower which was traded-in-exchange for the new lawn mower had been included in the cost of equipment at 30 September 2014 at a value of Sh.400,000. Depreciation is charged for a full year irrespective of date of purchase. No depreciation is charged in the year of disposal. Depreciation is to be provided as follows: Asset Club house Fixtures Equipment Required: 5) Rate per annum 2% on cost 20% on reducing balance 10% on cost Bar income statement for the year ended 30 September 2015. Income and expenditure account for the year ended 30 September 2015, Statement of financial position as at 30 September 2015. (4 marks) (8 marks) (8 marks) (Total: 20 marks)