(a(i))[4]
Calculate the profit made from the sale of refreshments for the year ended 31 December 2022.
(a(ii))[1]
Calculate the amount of life membership fees to be shown in the income and expenditure account for the year ended 31 December 2022.
(b)[5]
Prepare the subscriptions account covering the year ended 31 December 2022.
(c(i))[4]
Discuss what effect a lower level of inventory held could have on both the bank overdraft and the deficit.
(c(ii))[4]
Discuss what effect encouraging more members to join as life members might have on both the bank overdraft and the deficit.
(d)[2]
Suggest two other ways in which the club’s financial performance could be improved.
(e)[5]
Advise the managing committee on whether the financial statements ought to be audited. Justify your answer.