The Milham Theatre Club has been in existence for a number of years. Members pay an

annual subscription of $15$ which entitles them to join trips to professional productions at a reduced

rate.

On $1$ February $2016$ the Club's assets and liabilities were as follows:

Cash in hand $80,$ Bank balance $($overdrawn$)180,$ Subscriptions in arrears $150,$ Savings account

$1,950,$ Amount owing for coach hire $60.$

Part $6$ Special accounting procedures

Required:

$($a$)$

A detailed calculation of the Milham Theatre Club's accumulated fund at $1$ February $2016.$

The Club's treasurer was able to present the following information at $31$ January $2017$:

$*$ the picOn $31$ January $2017$ the club committee decided to write off any arrears of subscriptions for the

year ended $31$ January $2016$; the membership secretary reported that $75$ is due for subscriptions

for the year ended $31$ January $2017.$

$$ The treasurer has calculated that the full amount of interest receivable on the savings account for

the year ended $31$ January $2017$ is $155.$

$$ The club committee has decided that the gift should be capitalised.

Required:

$($fa$)$

$($c$)$

An account showing the surplus or deficit made by the Milham Theatre Club on theatre trips.

An income and expenditure account for the Milham Theatre Club for the year ending $31$ January

$2017.$

$($d$)$ An extract from the Milham Theatre Club's statement of financial position as at $31$ January $2017,$

showing the accumulated fund and current liability sections only.

The club committee have been concerned by the fact that the club's income has been steadily declin$-$

ing over recent years.ture