Accounting Test Question No.NT 2 On Non-Trading Organization
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Question No NT 2 On Non-Trading Organization The following statement has been prepared for the XYZ Social Club: Receipts and Payments Account for the year ended 30 April 2007
Following additional information at 1 May 2006
Following additional information at 30 April 2007
During the year, the club wrote off the old video machine. Depreciation is calculated at 25% of the book value of furniture and equipment at 30 April 2007. Charge 60% of wages to the cafeteria. Required: (a) Calculate the Accumulated Fund at 1 May 2006 (b) Prepare the Cafeteria Account for the year ended 30 April 2007 (c) Prepare the Income and Expenditure Account for the year ended 30 April 2007 (d) Prepare the Balance Sheet at 30 April 2007 |
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