Question
You've just been assigned as a bookkeeper on an internship at Stonington Badminton Club. Financial Information for the financial year 2021 The value of food
You've just been assigned as a bookkeeper on an internship at Stonington Badminton Club.
Financial Information for the financial year 2021
- The value of food and drink stock on June 30 was at $4,320.
- Of the wages paid during the year, $22,140 were for restaurant and bar staff.
- Accounts payable (for electricity and gas) on June 30 amounted to $220. The balance owing at the start of the year was also for electricity and gas.
- Depreciation to be provided on assets is $7,500 for machinery, $3,200 for office equipment, $4,500 for kitchen equipment and $320 for furniture.
- Kitchenware is not depreciated. Replacement of broken crockery and glasses is accounted for as an expense.
- Accrued wages on June 30 amounted to $1,140, $840 of which was for restaurant and bar staff. Of the wages accrued at the start of year, $400 was for restaurant and bar staff.
- On June 30 there were $1,035 subscriptions in arrears and $2,160 in advance.
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Summary of Receipts and Payments for the year ended June 2021 | |||
Receipts | $ | Payments | $ |
Membership fees | 20,700 | Food and drinks | 10,480 |
Restaurant and bar income | 38,650 | Wages | 42,800 |
Games machines income | 5,040 | Rent | 12,000 |
Rent of auditorium | 6,200 | Electricity and Gas | 4,300 |
Court fees | 15,400 | Repairs | 3,400 |
Competition fees | 8,800 | Telephone and internet | 3,000 |
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| Kitchenware replacements | 120 |
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| General expenses | 640 |
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| Furniture | 1,160 |
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| Bank Loan | 4,200 |
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| Interest on loan | 110 |
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| Trophies and other prizes | 1,400 |
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TOTAL RECEIPTS | 94,790 | TOTAL PAYMENTS | 83,610 |
Prepare and finalise Bar Trading Statement Restaurant and Bar Trading Statement for the year ended June 30 2021 | ||
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Restaurant and Bar Income |
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Less: Food and drinks stock ending balance |
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Less: Other expenses |
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