(a)[2]
Calculate the balance remaining in the life membership fund after the transfer to the income and expenditure account on 31 May 2023.
(b)[3]
Calculate the surplus or deficit for the year ended 31 May 2023 by comparing the accumulated fund figures.
(c)[7]
Calculate the profit or loss arising from holding tournaments for the year ended 31 May 2023.
(d)[10]
Prepare the income and expenditure account for the year ended 31 May 2023. Label the balancing figure as ‘other operating expenses’.
(e)[3]
Advise the committee on whether it should raise the entry fee for the tournaments by 10%. Justify your answer.