You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have the following information:Receipts and payments account as at 30 June 2020 Balance b/d Subscription Entrance fees Rental of hall Rental of lockers Canteen debtors Independence fair $ 120,000 320,000 37,600 18,000 8500 345 200 172,300 Canteen creditors Fixtures & fittings Independence fair expenses Wages for canteen staff Laundry expenses Prizes and trophies Utilities Honorarium -Admin staff Repairs Balance c/d $ 145,600 46,000 22,300 68,000 7600 8,800 9500 28000 4200 681,600 1,021,600 1,021,600 Additional information: 1 July 2019 30 June 2020 Club house Fixtures and Fittings Sports equipment Canteen debtors Canteen creditors Canteen stock Subscription un arrears Subscription in advance Accrued hall rental Repairs paid in advance $ 500,000 64,000 50,000 105,000 66,000 12,000 11,500 2,000 - 700 $ 500,000 100,000 45000 85,000 59,000 24,000 6,700 3,400 2,000 500 Proceeds from the independence fair are to be utilized for construction of a tennis court.The following accounts are required:a. Trading Account for the Independence Fair for the year ended 30, June 2020.b. Income and Expenditure Account for the year ended 30 June 2020.c. Balance sheet as at 30 June 2020.

You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have...

You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have the following information:

Receipts and payments account as at 30 June 2020

Balance b/d Subscription Entrance fees Rental of hall Rental of lockers Canteen debtors Independence fair	$ 120,000 320,000 37,600 18,000 8500 345 200 172,300	Canteen creditors Fixtures & fittings Independence fair expenses Wages for canteen staff Laundry expenses Prizes and trophies Utilities Honorarium -Admin staff Repairs Balance c/d	$ 145,600 46,000 22,300 68,000 7600 8,800 9500 28000 4200 681,600
	1,021,600		1,021,600

Additional information:

	1 July 2019	30 June 2020
Club house Fixtures and Fittings Sports equipment Canteen debtors Canteen creditors Canteen stock Subscription un arrears Subscription in advance Accrued hall rental Repairs paid in advance	$ 500,000 64,000 50,000 105,000 66,000 12,000 11,500 2,000 - 700	$ 500,000 100,000 45000 85,000 59,000 24,000 6,700 3,400 2,000 500

Proceeds from the independence fair are to be utilized for construction of a tennis court.

The following accounts are required:

a. Trading Account for the Independence Fair for the year ended 30, June 2020.

b. Income and Expenditure Account for the year ended 30 June 2020.

c. Balance sheet as at 30 June 2020.

Jun 10, 2022

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You are the Treasurer for Short Run Sports Club and the manager asked you to prepare the financial statements for 2020 as he will need the information to apply for some grant funding. You already have...

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