The following receipts and payments which account for the year ended 31^st December, 2018 has been prepared from the current bank statements for the Midajaza football club.

Year 2018 (sh) Year 2018 (sh)

1^st January bid 34,000 31^st Dec. club house

31^st Dec. subscriptions 172,000 rates and insurance 7,600

Bar takings 276,000 Decorations and repairs 18,200

Donations 23,360 Annual dinner catering 13,000

Annual dinner ticket sales 9,400 Stationery and printing 4,960

Bar purchases 184,000

New sport equipment 49,260

Hire of films 1,780

Administrators salary 94,000

Petty cash 1,850

Balance c/d 140,080

514,760 514,760

Additional information:

1. At 31^st December Year 2017 (sh) Year 2018 (sh)

Club house at cost (bought 1/1/2014) 300,000 300,000

Bar stocks at cost 36,800 47,200

Petty cash float 600 200

Bank deposit a/c 12,000 14,600

Subscription received in advance 4,200 7,200

Creditors for bar supplier 48,000 38,000

2. Depreciation is to be provided as follows:

• Clubhouse 10% on cost per annum.
• Sports equipment 25% on cost per annum.

3. The petty cash float is used exclusively for postage.
4. The only entry in the bank deposit account during the year ended 31^st December, 2018 concerns interest.
5. One quarter of the administrators salary and one half of the club house costs, including depreciation, are to be apportioned to the bar.
6. The donations received during the year ended 31^st December, 2018 are for the new coaching bursary fund which will be utilized for the provision of training facilities for the promising young sportsmen. It is expected to make the first award during the year 2019.

Required:

1. Bar income statement for the year ended 31^st December, 2018.

(4 marks)

An income and expenditure statement for the year ended 31^st