1 (a) Sands Social Club
Dr Subscriptions account Cr
2005 $ 2005 $
May 1 Balance b/d 150 (1) May 1 Balance b/d 210 (1)
2006 2005-2006
April 30 Balance c/d 75 (1) various Bank 1625 (1)
April 30 I & E Account 1610 (1)
1835 1835
2006
May 1 Balance b/d 75
Accept three-column format including headings Debit and Credit and opening and closing
balances. [5]
(b) Profit made on sale of refreshments
$ $
Sales 4620
Opening stock 270
Purchases 3250
3520
Closing stock 330 3190
Profit on sale of refreshments 1430 (2)
Accept any presentation [2]
(c) Receipts and Payments Account for the year ended 30 April 2006
$ $
Balance b/d 790 Purchase of refreshments 3250 (1)
Subscriptions 1625 (1 of) Rent 1200 (1)
Sale of refreshments 4620 (1) Insurance 240 (1)
Sundry expenses 1505 (2)/(1 of)
Balance c/d 840
7035 7035
Balance b/d 840
(NB. Award own figure only if no alien items present) [7]
(d) The subscriptions figure in the Receipts and Payments Account represents the total
amount received for subscriptions in the period (1) for the current and other periods. (1)
It is the cash amount received during the year. (1) [max 2]
The subscriptions figure in the Income and Expenditure Account represents subscriptions
for the year covered by the account. (1)
The subscriptions are matched to the year of membership. (1)
Members can pay for the year and also in arrears and advance. (1) [max 2]
2 (a) Calculation of accumulated fund
$
Subscriptions in arrears 130
Stock of refreshments 340
Balance at bank 740
1 210
Subscriptions in advance 210
Accumulated fund 1 000 (2)
(b) Avalon Social Club
Subscriptions account
$ $
2007 2007
1 Nov Balance b/d 130 (1) 1 Nov Balance b/d 210 (1)
2008 2008
31 Oct Balance c/d 90 (1) Various Bank 1710 (1)
31 Oct Income &
expenditure
account 1700 (1)
1920 1920
2008
1 Nov Balance b/d 90
(c) Profit made on sale of refreshments
$
Opening stock 340 Sales 4970
Purchases 3630
3970
Less: closing stock 290
Cost of goods sold 3680
Gross profit on sales 1290 (2)
4970 4970
(d) Avalon Social Club
Income and Expenditure account for the year ended 31 October 2008
$ $
Rent and rates 1400 Subscriptions 1700 (1of)
Insurance 300 Profit on sale of refreshments 1290 (1of)
Sundry expenses 1300 Deficit of expenditure over income 10 (1of)
3000 (1) 3000
3 (a) Accumulated fund:
Assets
$
Subscriptions in arrears 270 (1)
Inventory of refreshments 2200
Prepaid operating expenses 100
Equipment 3200
Bank 105 (1)
5875 (1)
Liabilities
Subscriptions in advance 175 (1)
Accumulated fund 5700 (2) or (1)OF
Refreshment Trading Account for the year ended 31 October 2011
$ $
(b) Sales of refreshments 25 000Club
Sandbury Sports (1)
Opening inventory 2 200
Purchases 19 000
21 200
Closing inventory 700 (1)
Cost of sales 20 500 (1)
Gross profit 4 500 (1)
(c) Sandbury Sports Club
Income and Expenditure Account for the year ended 31 October 2011
$ $
Income
Subscriptions (3200 + 175 + 90) 3465 (2)
Profit on refreshments 4500 (1of)
7965
Less
Expenditure
Bad debts 120 (2)
Rent and rates 1200 (1)
Operating expenses 4100
(3750 + 100 (1) – 250 (1))
Depreciation on equipment 1400 (1)
6820
Surplus 1145 (1)
(d) (i) Current liabilities (1)
They are creditors of the club for services to be provided in the future
(ii) Non-current assets (1)
It is capital expenditure (1)
Used for more than one accounting period
4 (a) Trinity Social Club
Trial Balance at 30 April 2012
Dr Cr
$ $
Fixtures and fittings 1600
Donations received 150
Subscriptions 1980
Rent 1400
Sales of refreshments 2500
General expenses 780
Purchases of refreshments 1150
Bank overdraft 100
Accumulated fund 200
4930 4930
(1) for every two correct answers in the trial balance + (1) for correct Accumulated fund
[5]
(b) (i) Subscriptions account
$ $
Apr 30 Income and 2015 (1) Apr 30 Bank 1980 (1)
expenditure
Apr 30 Balance c/d 25 Apr 30 Balance c/d 60
(in advance) (in arrears)
2040 2040
May 1 Balance b/d 60 (1) May 1 Balance b/d 25 (1)
(in arrears) (in advance)
[4]
(ii) Refreshment Trading Account for the year ended 30 April 2012
$ $
Sales of refreshments 2500
Less
Purchases of refreshments (1150 + 75) 1225 (1)
Less Inventory of refreshments 430
Cost of sales 795 (1)
Profit on refreshments 1705 (1 of) [3]
(c) Income and Expenditure Account for the year ended 30 April 2012
$ $
Income
Subscriptions 2015 (1 of)
Profit on refreshments 1705
Donations 150
3870 (1 of)
Less expenditure
Rent 1400
General expenses (780 +170) 950 (1)
Depreciation on fixtures and fittings 240 (1)
2590
Surplus 1280 (1 of) [5]
(d) Receipts and payments Income and expenditure
Has a balance of the account brought Calculates a surplus or deficit
down from the previous year
Entries recorded throughout the year Entries made at end of the year
Non-current assets recorded at cost Depreciation on non-current assets only
Cash payments recorded Cash payments adjusted for prepaid/accrued
5 (a) Depreciation of kits and equipment
$
Balance 1 July 2012 5 000 (1)
Purchases in year 4 656 (1)
Value of items sold (1 230) (1)
8 426
Balance 30 June 2013 (8 104) (1)
322 (1) [5]
(b) Loss on disposal
$
Value of sales in year 1 230 (1)
Less receipt from sale (1 008) (1)
Loss on sale 222 (1) [3]
(c) Subscriptions account
2012 2013
July 1 Balance b/d 240 (1) June 30 Bank 7 200 (1)
2013
June 30 Income and expenditure 6 420 (1 o/f)
Balance c/d 540
7 200 7 200
July 1 Balance b/d 540 (1)
(d) Brown Lane Rovers Football Club
Refreshments Income statement for the year ended 30 June 2013
$ $ $
Revenue 6 834
Less
Inventory 1 July 2012 250
Purchases 2 078 (1)
Creditors 1 July 2012 (1 034) (1)
Creditors 30 June 2013 1 140 (1) 2 184*
2 434
Inventory 30 June 2013 (300) (2 134)
Profit for year 4 700 (1) of
*Allow $2078 + $106 = $2184 (3) [4]
(e) Brown Lane Football Club
Income and Expenditure account for the year ended 30 June 2013
$ $
Income
Subscriptions 6 420 (1) of
Match day revenue 1 233
Profit on refreshments 4 700 (1) of
Donation income 940
13 293
Less expenditure
General running expenses 6 913 (1)
Groundsman’s wages 1 940 (1)
Depreciation 322
Loss on disposal 222
Match day expenses 3 680 (13 077)
Surplus of income over expenditure 216 (1) of
6 (a) Millenium Social Club
Café Income Statement for the year ended 30 April 2014
$ $
Revenue 41 000
Less
Opening inventory 930
Purchases (12 400 + 1 100 (1) – 1 250 (1)) 12 250
13 180
Closing inventory (790) (1)
Cost of sales 12 390
Less expenses:
Wages and taxes (14 000 + 1 140 (1) + 114 (1)) 15 254
Heat and light 600 (1)
Depreciation on equipment and fixtures 900 (1)
(29 144)
Profit on café 11 856
41 000 [7]
(b) Millenium Social Club
Income and Expenditure Account for the year ended 30 April 2014
$ $
Income:
Subscriptions (5 800 + 750 (1) – 400 (1) + 600 (1)) 6 750
Profit on café 11 856 (1of)
Donations 3 100 (1)
21 706
Less Expenditure:
Heat and light 600 (1)
Depreciation on equipment and fixtures 900 (1)
Bank loan interest 800 (1)
General expenses 7 600 (1)
Rent 4 000 (1)
(13 900)
Excess of income over expenditure 7 806
21 706 [10]
