Recreational Active Club was established in 2021 to handle recreational activities forTaiping residents. The following information is related to the club:1 Jan 202231 December 20221 Jan31 DechboAdditional information:Chapter 1Balance b/dEntrance feesMembers fees: 202120222023Contest feesRequired:Prepare,StationeriesAccrual (RM)O3,6963,780ORecreational Active Club Receipts and Payments Accountfor the year ended 31 December 20227,595Stationeries3,894Salaries462Sport equipmentUtilitiesAccrued MemberFees (RM)16,8606634,68634,160462546On 1 January 2022, the club owned the following assets:Sports equipmentRM9,000FurnitureRM2,970O Office Equipment RM6,148. Sports equipment in 1 January 2022 will be depreciated 10% per year.Utilities Payable(RM)561528RentBalance c/d4,7196,0723,8004,5876,9308,05234,160a. Income and expenditure account for the year ended 31 December 2022.b. Statement of financial position as at 31 December 2022.17Modul ACC4233 Intermediate Accounting

Non profit organization means the organization which is not running for business purpose but for the…

Recreational Active Club was established in 2021 to handle recreational activities for Taiping residents. The following information is related to the club: 1 Jan 2022 31 December 2022 1 Jan 31 Dec hbo . Additional information: Chapter 1 Balance b/d Entrance fees Members fees: 2021 2022 2023 Contest fees Stationeries Accrual (RM) 3,696 3,780 O Recreational Active Club Receipts and Payments Account for the year ended 31 December 2022 7,595 Stationeries 3,894 Salaries 462 Sport equipment Utilities Rent Balance c/d Accrued Member Fees (RM) 16,860 663 4,686 34,160 462 546 Utilities Payable (RM) 561 528 On 1 January 2022, the club owned the following assets: Sports equipment RM9,000 Furniture RM2,970 O Office Equipment RM6,148 Sports equipment in 1 January 2022 will be depreciated 10% per year. 4,719 6,072 Required: Prepare, a. Income and expenditure account for the year ended 31 December 2022. b. Statement of financial position as at 31 December 2022. 3,800 4,587 6,930 8,052 34,160 17 Modul ACC4233 Intermediate Accounting

Recreational Active Club was established in 2021 to handle recreational activities for Taiping residents. The following information is related to the club: 1 Jan 2022 31 December 2022 1 Jan 31 Dec hbo . Additional information: Chapter 1 Balance b/d Entrance fees Members fees: 2021 2022 2023 Contest fees Stationeries Accrual (RM) 3,696 3,780 O Recreational Active Club Receipts and Payments Account for the year ended 31 December 2022 7,595 Stationeries 3,894 Salaries 462 Sport equipment Utilities Rent Balance c/d Accrued Member Fees (RM) 16,860 663 4,686 34,160 462 546 Utilities Payable (RM) 561 528 On 1 January 2022, the club owned the following assets: Sports equipment RM9,000 Furniture RM2,970 O Office Equipment RM6,148 Sports equipment in 1 January 2022 will be depreciated 10% per year. 4,719 6,072 Required: Prepare, a. Income and expenditure account for the year ended 31 December 2022. b. Statement of financial position as at 31 December 2022. 3,800 4,587 6,930 8,052 34,160 17 Modul ACC4233 Intermediate Accounting

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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