(a)[4]
Explain how the trading account of a charity shop is unlike that of a business.
(b)[7]
Prepare the income and expenditure account for the year ending 31 December 2020.
(c)[8]
Prepare the statement of financial position as at 31 December 2020.
(d)[2]
Suggest two methods by which X Soc could raise its income.
(e)[2]
Explain why the accumulated fund of a not for profit organisation might differ from the balance in its bank account.
(f)[2]
Explain why the financial statements of some not for profit organisations may include entries for subscriptions.