QUESTION FIVE A summary of the Nairobi Football Club is shown below. From it, and the additional information, you are to

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Question Five A Summary Of The Nairobi Football Club Is Shown Below From It And The Additional Information You Are To 1 (54.77 KiB) Viewed 34 times

QUESTION FIVE A summary of the Nairobi Football Club is shown below. From it, and the additional information, you are to construct an income and expenditure account for the year ended 31 December 2021, and a balance sheet as at that date. Cash Book Summary £ £ Balance at 1.1.2021 1,440 Purchase of equipment 380 Collections at matches 1,600 Profit on sale of refreshments 104 210 6,400 11,178 Further information: (i) At 1.1.2021 equipment was valued at £2,000. (ii) Depreciate all equipment 25 per cent for the year 2021. (iii) At 31.12.2021 rent paid in advance was £400. (iv) At 31.12.2021 there was £25 owing for printing. (5 MARKS) 4,218 Rent for pitch 5,520 Printing and stationery Secretary's expenses 220 Repairs to equipment Groundsman's wages Miscellaneous expenses Balance at 31.12.2021 96 2,168 11,178