You are a student of Nirwa College of Technology. As part of your counse e n you visit the Oman Sports club in your locality. You are not a member of that club. You had an occasion to visit the club and discuss with one of the members on the membership, working management and preparation Suppose you down all these points. can you from (a) Analyzing these point what did you find out? Based on your finding what about the club! (b) Analyzing the Recipes and payments Account and the income and Expendie doyo Why is it plan in detail tem, what You have prone through the following is the Recipes and Payments Account of Oman Sports Club Recipes & Payments Account for the year ending December 31, 2017 Recept A RO) Payments (RO) Balanced 7890 Salary Electric Charges Subscriptions $2.000 Life membership fee Entrance fee Tournament fund 26.000 Printing & Stationery 1.250 Tournament en Lacker Sale of old sports goods Casting RO 2.300) Sale of old newspapers Legacy Repair of playing ground Furniture purchased 750 37.500 Sports ents Cash and bank balances Fixed deposit invested on 1.10.2017 for interest 10% per 000 11290 1290 The follow ancese wale won 31 December 2016 Subscription outstanding RO 1.200, building RO 36,000, furniture RO 12.000. RO 17.500 cash and bank balances were RO 7.890 Additional format: 1. Outstanding expenses as 31 December 2017 were as follows: Subscription - RO 3.200, locker ron-RO 250Salary-R 1,000 2. Depreciation charged to building sports equipments and future is 10% perum (Including 3. Legacy and life membership fee is to be capitalized. As part of your assignment, you are required to prepare: Income and expenditure account and 4. Balance Sheet as on 31.12.2017