(a)[3]
Calculate the life membership fund reported in the statement of financial position at 31 December 2019.
(b)[3]
State three ways in which a receipts and payments account differs from an income and expenditure account.
(c)[5]
Explain to the treasurer, with reference to the relevant accounting concepts, how the special donation of $10000 should be treated in the club’s financial statements.
(d)[8]
Prepare the income and expenditure account for the year ended 31 December 2020. Use the space on the next page to show your workings.
(e(i))[3]
Calculate the accumulated fund as at 31 December 2019.
(e(ii))[3]
Prepare a statement that shows how the accumulated fund moved during the year ended 31 December 2020.