The treasurer of Manchester United Football Club has prepared a receipts and payments statement.

Unam Football Club

Receipts and Payments Statement for the year ended 31 December 2019

Receipts Payments

Bank balance 01.01.2018 1 000 Payment for bar supplies 5 250

Subscription: Wages: Groundsman 2 450 2018 (Arrears) 350 Wages: Barman 2 100

2019 18 450 Bar Expense 1 720

2020 (in advance) 220 Repairs to Stand seat 1 125

Bar Sales 10 500 Ground Maintenance 1 360

Donation Received 480 Secretary's Expenses 1 520

Transport Expense 2 640

Telephone Expense 3 650

Bank balance 31.12.2019 9 185

31 000 31 000

Notes: 31.12.2018 31.12.2019

1. N$ N$

Bar Inventory 2 550 3 250

Bar Supplies Owing 1 880 1 950

Bar Expense Owing 120 180

Transport Cost - Owing - 0 195

2.

The land and football stands were valued at 31 December 2018 at: Land N$ 22 100; Football stands N$ 14 500; the stands are to be depreciated by 10 per cent per annum. Furniture and fittings at 31 December 2018 was valued at N$13 500 and is to be depreciated at 10 per cent per annum.

3.

Subscription owing by members amounted to N$ 350 on 31 December 2018, and N$420 On 31 December 2019.

Required:

a) Show accumulated capital as at 31 December 2018. 02 Marks

b) Draw up a Bar Trading Statement. 09 Marks

c) Income and Expenditure Statement for the year ended 31 December 2019. 12 Marks

d) Prepare Statement of Financial Position as at 31 December 2019. 17 Marks