The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows

GHS

Accumulated fund (1/06/2019)

5805600

Massage Palour inventory at beginning (1/06/2019)

1107000

Massage Palour Purchases

2082800

Building (Cost)

5256200

Equipment (Cost)

656000

Furniture and fittings (Cost)

410000

Subscriptions

492000

Affiliation Fees

61500

Savings Account

1394000

Venue of the "Weekend in Paradise Trip"

28700

Executive Mens Club Entrance fees

49200

Massuer's Wages and Salaries

205000

Accumulated Depreciation

Building

2102480

Equipment

164000

Furniture and Fittings

41000

Salaries

196800

Rent

78720

"Weekend in Paradise Trip" expenses

49200

Administrative expenses

142680

Interest on Savings account

77900

Sale of "Weekend in Paradise Trip" tickets

623200

Bank account (Current)

1025000

Donation for "Weekend in Paradise Trip"

151700

Revenue from Massage Palour

3116000

Life membership fees

151700

Utilities

81180

25549560

Additional Information

1. Massage Palour inventory (31st May 2020)

221400

2. Subscription paid in advance by member for the year 2020/2021

98400

3. Depreciation : Building 2% per annum, Equipment 25% 10% per annum

4. Interest on saving includes an amount from the 2018/2019 year

4100

5. Affiliation fees was paid for the next 3 years on 1 June 2019

6. Utilities were prepaid at the end of the year

11480

7. Salaries were accrued at the end at the end of the year

16400

8. Parker Exclusive Mens Club organised a "Weekend in Paradise Trip" for its members during the year

9. The Parker Exclusive Mens Club is affiliated to the International Association of Executive Clubs

REQUIRED:

1. Prepare an Income and Expenditure Statement and a Statement of Financial Position for the 2019/2020 Financial year

2. Use the information in 1. to fill the attached excel form.