(a)[3]
Explain why the club uses the policy of spreading life membership fees equally over ten years.
(b)[4]
Calculate the profit/loss from running the vending machine for the year ended 31 December 2024.
(c)[9]
Prepare the income and expenditure account covering the year ended 31 December 2024.
(d)[4]
Prepare a statement showing how the accumulated fund changed during the year ended 31 December 2024.
(e)[5]
Advise the managing committee whether Meena’s offer should be accepted or rejected. Justify your answer.