Fassa Social club presented the following information for the year ended 31 December 2021. Page...
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Accounting
Fassa Social club presented the following information for the year ended 31 December 2021. Page 2 of 6 During the year ended 31 December 2021, cash receipts and cash payments were as follows; a. Cash receipts b. Cash payments c. It is the entity's policy to depreciate motor vehicles using a rate of 20% per annum based on the straight line method. Motor vehicles were acquired on 30 June 2020 and depreciation is to be provided in the year of purchase. You are required to prepare; a. Fassa Social Club's Statement of financial affairs as at 1 January 2021 (6 marks) b. Fassa Social Club's bar trading account for the year ended 31 December 2021 . (6 marks) c. Fassa social Club's Statement of income and expenditure for the year ended 31 December 2021. d. Calculate the club's closing bank balance. (7 marks) (6 marks)
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