1 A summary of the Downline Rugby Club’s cash book is shown below. From it, and the additional information, you are to construct an income and expenditure account for the year ending 31 December 2006,...

1

A summary of the Downline Rugby Club’s cash book is shown below. From it, and the additional

information, you are to construct an income and expenditure account for the year ending

31 December 2006, and a balance sheet as at that date.

Further information:

(i
) At 1.1.2006 equipment was valued at £2,000.

(ii
) Depreciate all equipment 20 per cent for the year 2006.

(iii
) At 31.12.2006 rent paid in advance was £400.

(iv) At 31.12.2006 there was £25 owing for printing.