The trial balance of The Parker Exclusive Mens Clubs at 31th May 2020 is as follows GHS Accumulated fund (1/06/2019) 48002400 Massage Palour inventory at beginning (1/06/2019) 9153000 Massage Palour Purchases 17221200 Building (Cost) 43459800 Equipment (Cost) 5424000 Furniture and fittings (Cost) 3390000 Subscriptions 4068000 Affiliation Fees 508500 Savings Account 11526000 Venue of the "Weekend in Paradise Trip" 237300 Executive Mens Club Entrance fees 406800 Massuer's Wages and Salaries 1695000 Accumulated Depreciation Building 17383920 Equipment 1356000 Furniture and Fittings 339000 Salaries 1627200 Rent 650880 "Weekend in Paradise Trip" expenses 406800 Administrative expenses 1179720 Interest on Savings account 644100 Sale of "Weekend in Paradise Trip" tickets 5152800 Bank account (Current) 8475000 Donation for "Weekend in Paradise Trip" 1254300 Revenue from Massage Palour 25764000 Life membership fees 1254300 Utilities 671220 211251240 Additional Information 1. Massage Palour inventory (31st May 2020) 1830600 2. Subscription paid in advance by member for the year 2020/2021 813600 3. Depreciation : Building 2% per annum, Equipment 25% Furniture and fittings10% per annum 4. Interest on saving includes an amount from the 2018/2019 year 33900 5. Affiliation fees was paid for the next 3 years on 1 June 2019 6. Utilities were prepaid at the end of the year 94920 7. Salaries were accrued at the end at the end of the year 135600 8. Parker Exclusive Mens Club organised a "Weekend in Paradise Trip" for its members during the year 9. The Parker Exclusive Mens Club is affiliated to the International Association of Executive Clubs REQUIRED: 2. Provide answers for the following a. Total Assets b. Total Current liabilities c. Total Long Term Liabilities d. Closing balance of Accumulated Fund
QUESTION 1
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The
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GHS |
Accumulated fund (1/06/2019)
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48002400 |
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Massage Palour inventory at beginning (1/06/2019)
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9153000 |
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Massage Palour Purchases
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17221200 |
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Building (Cost)
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43459800 |
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Equipment (Cost)
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5424000 |
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Furniture and fittings (Cost)
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3390000 |
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Subscriptions
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4068000 |
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Affiliation Fees
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508500 |
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Savings Account
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11526000 |
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Venue of the "Weekend in Paradise Trip"
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237300 |
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Executive Mens Club Entrance fees
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406800 |
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Massuer's Wages and Salaries
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1695000 |
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Building |
17383920 |
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Equipment |
1356000 |
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Furniture and Fittings |
339000 |
Salaries
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1627200 |
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Rent
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650880 |
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"Weekend in Paradise Trip" expenses
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406800 |
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Administrative expenses
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1179720 |
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Interest on Savings account
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644100 |
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Sale of "Weekend in Paradise Trip" tickets
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5152800 |
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Bank account (Current)
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8475000 |
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Donation for "Weekend in Paradise Trip"
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1254300 |
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Revenue from Massage Palour
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25764000 |
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Life membership fees
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1254300 |
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Utilities
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671220 |
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211251240 |
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Additional Information
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1. Massage Palour inventory (31st May 2020)
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1830600 |
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2. Subscription paid in advance by member for the year 2020/2021
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813600 |
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3. Depreciation : Building 2% per annum, Equipment 25% Furniture and fittings10% per annum
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4. Interest on saving includes an amount from the 2018/2019 year
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33900 |
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5. Affiliation fees was paid for the next 3 years on 1 June 2019
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6. Utilities were prepaid at the end of the year
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94920 |
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7. Salaries were accrued at the end at the end of the year
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135600 |
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8. Parker Exclusive Mens Club organised a "Weekend in Paradise Trip" for its members during the year
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9. The Parker Exclusive Mens Club is affiliated to the International Association of Executive Clubs
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REQUIRED: |
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2. Provide answers for the following |
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a. Total Assets b. Total Current liabilities c. Total Long Term Liabilities d. Closing balance of Accumulated Fund
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