(a)[7]
Prepare the income and expenditure account for the year ending 30 June 2018.
(b)[2]
State two differences between an income and expenditure account and a receipts and payments account.
(c)[7]
Prepare the statement of financial position as at 30 June 2018.
(d)[4]
Calculate the restaurant cash surplus or deficit for the year ended 30 June 2018.
(e)[5]
Evaluate whether the club ought to fund the improvement with members’ loans or a bank loan. Support your answer.