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The following receipts and payments account for the year ended 31^st December 2013 has been prepared

by the treasurer of Eldoret sports club .

Receipts kshs.000

Balances at bank , Jan 1 2013 1,298

Subscription received 3,790

Profits on dances 186

Profits on exhibition 112

Coffee bar takings 2,798

Sale of equipment 66

8,250

Payments Ksh. 000

Coffee supplies bought 1456

Wages to attendants and cleaners 1776

Rent of rooms 887

New equipment bought 565

Travelling expenses of teams 673

Balance at bank (31/12/2013) 2,893

8,250

Additional information

i)Coffee bar stocks were valued :31 Dec 2012,ksh.59,000,31 December 2013 Ksh.103,000.There was

nothing owing for coffee bar stocks on either of these dates.

ii)on 1^st January 2013 the clubs equipment was valued at kshs.2,788,000.Included in this figure ,valued

at sh.77,000 was the equipment sold during the year for sh.66,000.

iii)The amount to be charged for depreciation of equipment for the year is ksh.279,000.This is in

addition to the loss on equipment sold during the year.

iv)Subscription owing by members at 31 st December 2012 is nil and at 31 st December 2013 is

sh.29,000.

Required :

a) Coffee bar trading account for the year ended 31^st December 2013.For this purpose,sh.650,000 of the

wages is to be charged to this account: the remainder will be charged in the income and expenditure

account.

b) Income and expenditure account for the year ended 31^st December 2013

c) Statement of financial position as at 31^st December 2013

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