IV. Following is the Receipt and Payment Account of Bangkok Sports Club; prepare the Income Statement and Expenditure Account and Balance Sheet as on 31st December 2021. Receipts Balance b/d Subscriptions Life Membership Fee Entrance Fee Tournament Fund Receipt and Payment Account for the year ending December 31 2021 Locker Rent Sale of old sports (costing B2200) Sale of Old Newspaper Legacy Amount (in B) 7890 52000 2200 3200 26000 1250 2500 750 37500 133290 Payments Salary Electric charges Billiard Table Office Expenses Printing and Stationery Tournament Expenses Repair of ground Furniture purchased Sports Equipment Cash in hand Cash at Bank Fixed Deposit (on 1.10.2021 for 10% p.a) Amount (in B) 11000 5500 17500 4100 2300 18500 2000 7700 12000 12690 10000 30000 133290 Other Information: 1.Subscription outstanding on 31st December 2020 $ 1200 on 31st December 2021 $3200 2. Locker Rent outstanding on 31st December 2021 $250 3. Salaries outstanding on 31st December 2021 $1000 4. On 1st January 2021, the club had Building $36000, Sports equipment $17500. Depreciation is to be charged @ 10% per annum on both, including purchases. 5. Opening Fund Balance $74590

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IV. Following is the Receipt and Payment Account of Bangkok Sports Club; prepare the Income Statement and
Expenditure Account and Balance Sheet as on 31st December 2021.
Receipts
Balance b/d
Subscriptions
Life Membership Fee
Entrance Fee
Tournament Fund
Receipt and Payment Account for the year ending December 31 2021
Locker Rent
Sale of old sports (costing B2200)
Sale of Old Newspaper
Legacy
Financial Ratios of 2020:
Current Ratio
Quick Ratio
Amount (in B)
7890
52000
2200
3200
26000
1250
2500
750
37500
Contribution Ratio
Programme Expenses Ratio
Debt Assets Ratio
Days of liquid net asset
133290
Payments
Salary
Electric charges
Billiard Table
Office Expenses
Printing and Stationery
Tournament Expenses
Repair of ground
Furniture purchased
Sports Equipment
Cash in hand
Cash at Bank
Fixed Deposit (on 1.10.2021
for 10% p.a)
Amount (in B)
Other Information:
1.Subscription outstanding on 31st December 2020 $ 1200 on 31st December 2021 $ 3200
2. Locker Rent outstanding on 31st December 2021 $250
3. Salaries outstanding on 31st December 2021 $1000
4. On 1st January 2021, the club had Building $36000, Sports equipment $17500. Depreciation is to be charged @
10% per annum on both, including purchases.
5. Opening Fund Balance $74590
2.75
2.75
26.2
62%
0.5
285 days
11000
5500
17500
4100
2300
18500
2000
7700
12000
12690
10000
30000
133290
Transcribed Image Text:IV. Following is the Receipt and Payment Account of Bangkok Sports Club; prepare the Income Statement and Expenditure Account and Balance Sheet as on 31st December 2021. Receipts Balance b/d Subscriptions Life Membership Fee Entrance Fee Tournament Fund Receipt and Payment Account for the year ending December 31 2021 Locker Rent Sale of old sports (costing B2200) Sale of Old Newspaper Legacy Financial Ratios of 2020: Current Ratio Quick Ratio Amount (in B) 7890 52000 2200 3200 26000 1250 2500 750 37500 Contribution Ratio Programme Expenses Ratio Debt Assets Ratio Days of liquid net asset 133290 Payments Salary Electric charges Billiard Table Office Expenses Printing and Stationery Tournament Expenses Repair of ground Furniture purchased Sports Equipment Cash in hand Cash at Bank Fixed Deposit (on 1.10.2021 for 10% p.a) Amount (in B) Other Information: 1.Subscription outstanding on 31st December 2020 $ 1200 on 31st December 2021 $ 3200 2. Locker Rent outstanding on 31st December 2021 $250 3. Salaries outstanding on 31st December 2021 $1000 4. On 1st January 2021, the club had Building $36000, Sports equipment $17500. Depreciation is to be charged @ 10% per annum on both, including purchases. 5. Opening Fund Balance $74590 2.75 2.75 26.2 62% 0.5 285 days 11000 5500 17500 4100 2300 18500 2000 7700 12000 12690 10000 30000 133290
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