Consolidation Task in Pairs

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Consolidation Task in Pairs Powered By Docstoc
					TASK 1 In this task, you and your partner are going to work together. You are not allowed to talk to any other group member………only your partner!!!! On the 1 January 2009, Mike’s Volleyball Club has the following assets: Property £80,000 Van £8,000

Below is the Receipts and Payments Account, showing all the money coming in and going out of the club for the year ended 31 December 2009.
£ £ £

Opening Bank Balance RECEIPTS Subscriptions Grant Income from Competition Donations PAYMENTS Council Tax Honorarium Cleaning Costs Physio Fees Competition Expenses CLOSING BANK BALANCE 400 7,200 1250 750 300 21,000 2,500 315 400

25,000

24,215 49,215

9900 £39,315

At the 31 December 2009, the following should be taken into account (a) Cleaning Costs still to pay £400 (b) Honorarium paid in Advance £250 (c) Depreciation of Van 10% Complete an Income and Expenditure Account for the year ended 31 December 2009 and a Balance Sheet at this date

TASK 2 On the 1 January 2009, Jill’s Synchronised Swimming Club has the following assets: Motor Vehicle £12,000 Caravan £15,000

Below is the Receipts and Payments Account, showing all the money coming in and going out of the club for the year ended 31 December 2009.
£ £ £

Opening Bank Balance RECEIPTS Subscriptions Donations Lottery Grant PAYMENTS Honorarium Council Tax Rental of Swimming Pool Fitness Instructor Fees Competition Entry Fees CLOSING BANK BALANCE 4,000 750 8,000 1,000 1200 17,000 2,500 1,500

51,000

21,000 72,000

14,950 £57,050

At the 31 December 2009, the following should be taken into account (a) Rental of Pool paid in Advance £1,000 (b) Fitness Instructor fees still to pay £400 (c) Depreciation of Motor Vehicle 10% (d) Depreciation of Caravan 20% Complete an Income and Expenditure Account for the year ended 31 December 2009 and a Balance Sheet at this date

On the 1 January 2009, Bob’s Performing Arts Club has the following assets: Building £75,000 Motor Vehicle £10,000

Below is the Receipts and Payments Account, showing all the money coming in and going out of the club for the year ended 31 December 2009.
£ £ £

Opening Bank Balance RECEIPTS Council Grant Subscriptions Donations Lottery Grant PAYMENTS Council Tax Heating and Lighting Honorarium Rental of Equipment Competition Entry Fees CLOSING BANK BALANCE 650 500 1,000 4,000 800 2,500 12,000 1,500 500

63,000

16,500 79,500

6,950 £72,550

At the 31 December 2009, the following should be taken into account (a) Depreciation of Motor Vehicle 5% (b) Council Tax in Advance £200 (c) Honorarium still to pay £100 (d) Rental of Equipment Accrued £250 Complete an Income and Expenditure Account for the year ended 31 December 2009 and a Balance Sheet at this date


				
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posted:12/9/2009
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