THREE The statement of financial position of 'SERIOUS STUDENTS' CLUB at 31st December, 2010 was as follows: Non-current assets Club house at cost Equipment at cost Furniture and fittings Current Assets Stocks: Bar Restaurant 300,000 40,000 90,000 32,000 5,000 Subscription Cash at bank 3,200 18,500 488,700 Accumulated funds 481,000 Current liabilities Bar creditors Restaurant creditors Lighting and heating 4,200 1,700 1,800 488,700 The cash book for the year 2011 has been summarised as follows: GHS GHS Balance at bank 18,500 Wages 428,000 Bar takings 491,600 Purchase of equipment 15,000 Restaurant takings 84,200 Rates 31,000 Green workshop fees 28,700 Lighting and heating 17,000 Subscriptions: 2010 3,200 Green workshop expenses 24,200 2011 2012 372,600 Printing and postage 8,600 2,000 Bar creditors 384,300 Rent income 10,500 Restaurant creditors 82,500 Balance at bank 31/12/2011 20,200 1,011,300 1,011,300 1. The membership register showed that subscriptions unpaid at 31/12/11 amounted to GHS1,000. At the same time, GHS2,700 was owing for Bar purchases and GHS2,300 for Restaurant 2. Club members owed GHS2,100 to the bar for drinks supplied to them 3. Bar and Restaurant stocks amounted to GHS3,900 and GHS4,300 respectively and lighting and heating unpaid GHS2,000 4. Depreciation of GHS17,000 and GHS8,000 is to be written off equipment and 3