ACCOUNTING AS LEVEL

CLASS TEST 4

On January 1, Year 1, the Aberfoyle Archery Club had the following assets and
liabilities.
Bank Current Account
Bank Deposit Account
Creditors for Bar
Archery Equipment
(Cost Price 720)
Bar Stocks

2,070
3,000
1,140
180
1,320

Subscriptions in arrears
Subscriptions prepaid
Rent and Rates due
Furniture & Fittings
(Cost Price 3,000)
Lighting and Heating due

240
165
90
2,340
60

During the year, the following financial transactions took place.

Receipts

Entrance Fees
Subscriptions
Bar Takings
Catering Receipts

600
3,840
18,630
750

Payments

Bar Purchases
Bar Wages
Catering Purchases
Rent and Rates
Lighting and Heating
Part payment of new Archery Equipment
(All existing Archery Equipment was traded-in for 300)
Purchase of new Furniture
General Expenses
On 31 December, the following information was available.
Creditors for Bar
Bar Stocks
Depreciate all Furniture by
Depreciate the new Archery
Equipment by
Closing Stock of Catering Supplies

14,230
1,890
420
1,110
870
780

1,500 Subscriptions in Arrears

1,140 Rent and Rates due
10% on cost Lighting and Heating due
General Expenses prepaid
20% on cost Unpaid bill for Catering
22 Supplies

Interest on the Bank Deposit Account due, but not yet received - 5% per annum.
The Bar Steward is entitled to a bonus equal to 40% of the Gross Profit on Catering.
(This amount has yet to be paid).
Prepare for Year 1, the:
1. Balance Sheet as at 1 January
2. Receipts and Payments Account
3. Bar Trading Account
4. Catering Trading Account
5. Income and Expenditure Account
6. Balance Sheet as at 31 December.

2,700
720

300
180
90
53
40