Total SECTION A: All questions in this section are compulsory and must be answered QUESTION ONE Howard Golf Club's sources of income include members' donations, subscriptions and fundraising activities of different types including running a bar on a small scale to raise funds for operational needs. The following is a summary of the Cash Book that has been presented to you by the Treasurer: Receipts K Cash at Bank and in hand at 1 April, 2018 2,370 Members' subscriptions 14,860 Entrance fees Bar receipts 28,400 Competitions receipts 6,820 54.050 1,600 6,690 20,200 3.750 Payments Wages - Outdoor staff Bar purchases Rent 11 years to June 30, 2018 Rates Secretary's salary Lighting, heating and cleaning Competition prizes Printing, Postages and sundries Deposited with Building Society Balance at Bank and in hand 31 March 2019 1.100 1,560 3,850 2,000 3,000 4.000 7.900 546050 Additional Information 1. You are informed that the Club's assets on 1 April 2018 were:- furniture and equipment K24.000, bar stocks K1,300, stock of prizes - K400, and that K2,600 was owing for supplies to the bar. 2. You find that on 31 March 2019, the bar stocks were K1,500 and prizes in hand were K250, warWhile the club owed K7,800 for bar supplies. On examining the members' register, you find that subscriptions unpaid at 31 March 2019 amounted to K500 and that the figure of K14,860 shown in the cash book included K350 in respect of the previous year and K200 paid in advance for the following year. 3. Furniture and equipment must be depreciated at 10% of the carrying amount at the beginning of the year. Required: (a) Prepare the Opening Statement of Affairs and a Subscription Account as at 1st April 2018, (8 marks) (b) Prepare a bar trading account for the year ended 31 March 2019. (7 marks) (e) Prepare the income and Expenditure Account for the year to 31 March 2019: (15 marks) (d) Prepare a Statement of financial position as at 31 March 2019, (10 marks) (Total: 40 Marks)