(a)[3]
State three ways in which the financial statements of a not-for-profit organisation differ from those of a limited company.
(b)[4]
Prepare the café trading account for the year ended 31 December 2021 to determine the profit or loss on its trading activity.
(c)[4]
Prepare the subscriptions account covering the year ended 31 December 2021.
(d)[6]
Prepare the income and expenditure account for the year ending 31 December 2021.
(e)[3]
Explain to the treasurer how the club should record the life membership fees in the club’s financial statements.
(f)[5]
Advise the committee on whether the café should be closed or not. Justify your answer.