Clubs Societies Done by Koh Ngin Lan Edna
Clubs & Societies Done by: Koh Ngin Lan Edna
Preparation of Final Accounts Recap: What have we learnt ? n Sole Proprietorship – Trading & Profit & Loss Account – Balance Sheet n Partnership – (see sole proprietorship) – Profit & Loss & Appropriation A/c • • Interest on drawings Interest on capital Salary Share of profits – Balance Sheet • Capital A/c • Current A/c
What do they have in common? n They are business organisations: – involved in trading activities, ie. the buying & selling of goods or services – operate solely to make a profit for their owners
Topic for Today … … Clubs & Societies
Lesson Objectives n At the end of the lesson, you should be able to: – state the difference between a trading and non-trading organisation – distinguish between the different accounts kept by a trading and non-trading organisation
Non-Trading Organisations What are they? n Clubs, societies and associations n formed to cater and promote n the sporting, cultural and recreational interests of its members. They are not formed with the purpose of making profits.
Clubs & Societies School
Clubs & Societies School Guitar Club Mathematics Society social, music Swimming Club social, maths puzzles sports, outdoor activities What are the sources of income & expenses?
Clubs & Societies n What are some of the non-trading organisations in Singapore? – Purpose of existence? – Sources of income? – Expenses incurred?
In Singapore … … Non-Profit Organisations: n CDAC, Mendaki, Sinda – Purpose: • To provide tuition schemes at affordable rates • To assist low-income, low-skilled workers to upgrade their skills • To enhance the well-being of the community – Income: • Donations, grants from the Govt. – Expenses: • Day-to-day activities, scholarships, training programmes
In Singapore … … n National Kidney Foundation (NKF) – Purpose: • To provide kidney patients with dialysis treatment & drugs at affordable cost. – Income: • Donations only – Expenses: • Day-to-day activities, dialysis machines, research.
In Singapore … … Recreational Activities: n Chinese Swimming Club – Purpose: • To provide facilities & activities that cater to the sports, recreation & social needs of the family & individual – Income: • Entrance fees, subscriptions fees, restaurant & karaoke operations, fruit machines & video games – Expenses: • Day-to-day activities, eg. repairs & maintenance, utilities
Clubs & Societies Compare the income of a trading & non-trading organisation: n Trading Concern 1. 2. 3. 4. 5. 6. 7. 8. Sale of goods Receipts from services Rent received Commission received Discount received Interest received Bad debts recovered Profits from the sale of fixed assets n Non-Trading 1. Subscriptions 2. Entrance fees 3. Profit from sale of refreshments 4. Interest received 5. Donations 6. Fun fair 7. Life membership subscriptions 8. Grants from the Govt.
Clubs & Societies Do you remember? Receipts Revenue Capital Expenditure Revenue Capital
Clubs & Societies Revenue Receipts n Trading Concern n Clubs & Societies – Sale of goods – Other income: • Cash discount received for prompt payment • Commission revenue • Rent revenue • Interest on deposit – Membership subscriptions – Donations – Proceeds from social activities – Receipts from sale of refreshments in bar/restaurant – Rental fees for courts, lockers
Clubs & Societies Revenue Expenditure n Trading Concern – Cost of goods sold – Administrative expenses, staff wages, stationery, utilities, rental – Distributive expenses: • Transport, commission, bad debts – Depreciation of fixed assets n Clubs & Societies – – Entertainment expenses Competition prizes Repairs & maintenance Sundry expenses: • Utilities, staff wages – Honorarium – Depreciation of fixed assets – Bar/ Restaurant expenses
Clubs & Societies Capital Receipts n Trading Concern – Bank loans – Owner’s contribution n Clubs & Societies – Legacies – Entrance fees (if capitalised) – Life membership fees
Clubs & Societies Capital Expenditure n Trading Concerns – Purchase of fixed assets n Clubs & Societies – Purchase of fixed assets: • Office equipment • Sports equipment • Furniture, billiard tables – Extension of club houses, including legal fees
Clubs & Societies n Similar to trading concerns, clubs & societies need to keep accounts according to accounting concepts & principles n Financial statements are presented to members during the Annual General Meeting (AGM) n Also submitted to the Registrar of Societies How are the accounts of clubs & societies different from trading concerns?
Clubs & Societies Recall that … n Trading Concern – Trading Account • Gross Profit = Net Sales – Cost of Sales Difference … n Clubs & Societies – Bar Trading A/c • Trading profit = Trading Revenue-Trading Expenses
Clubs & Societies Recall that … n Trading Concern – Cash or Bank Account: • Records cash inflows & outflows Difference … n Clubs & Societies – Receipts & Payments Account: • Is actually a cash book by another name
Clubs & Societies Recall that … n Trading Concern – Profit & Loss A/c: • Records net profit or loss Difference … n Clubs & Societies – Income & Expenditure A/c: • Same principle as Profit & Loss A/c • Records surplus or deficit
Clubs & Societies Recall that … n Trading Concern – Balance Sheet: Difference … n Clubs & Societies – Balance Sheet: • Assets = Owner’s Equity + Accumulated Fund Liabilities + Liabilities
Clubs & Societies What have we learnt today? 1. Distinguish between trading & nontrading concerns – profit motive? 2. Different accounts used: n Receipts & Payments A/c n Bar Trading A/c n Income & Expenditure A/c n Accumulated Fund
Clubs & Societies End of Lesson 1: 2 periods (70 min)
Do you know ? What are the differences between the Receipts & Payments A/c and the Income & Expenditure A/c ?
Differences… Receipts & Payments A/c Income & Expenditure A/c 1. Summary of total 1. Summary of the operating receipts and payments of expenses and revenue cash and cheques. items. Equivalent to a summarised Equivalent to a Profit and form of a Cash Book of a Loss Account of a trading concern.
Differences… Receipts & Payments A/c Income & Expenditure A/c 2. Contains both capital and 2. Contains only revenue expenditure as expenditure and revenue well as capital and receipt items only. revenue receipts.
Differences… Receipts & Payments A/c Income & Expenditure A/c 3. Includes those revenue 3. Includes only revenue and capital items that are items incurred or earned actually paid for and during the current received. accounting period. Items which may refer to Excludes prepaid expenses, preceding or succeeding periods are also included. unearned revenue. Includes accrued expenses, accrued revenue.
Differences… Receipts & Payments A/c Income & Expenditure A/c 4. Final balance is the 4. Final balance shows either balance of cash in hand, a surplus or a deficit for or cash at bank. the period. Is a current asset in the Surplus is added to the Balance Sheet. Overdraft is a current liability. accumulated fund in the Balance Sheet. Deficit is deducted from accumulated fund.
Presentation … Receipts and Payments Account Debit all receipts (both capital & revenue receipts) Credit all payments (both capital & revenue expenditure) Income and Expenditure Account Debit all current year revenue expenditure Credit all current year revenue receipts
Prepare the Receipts and Payments Account for Weekend Football Club.
Weekend Football Club provided you with the following information regarding the cash movements of its club: $ Cash at bank as at 1 January 1999 Receipts for the year: • Subscriptions • Entrance Fees • Collections at Matches • Sale of Refreshments Payments for the year: • Football Equipment • Cost of Refreshments • Sundry Expenses • Maintenance of Clubhouse 2, 000 1, 000 400 600 350 200 150 500
Weekend Football Club Receipts and Payments Account $ $ 1999 2, 000 Dec 31 Football Equipment 250 Jan 1 Balance b/d 1, 000 Cost of Refreshments 200 Dec 31 Subscriptions Entrance Fees 400 Sundry Expenses 150 Collections at Matches 600 Maintenance of Sale of Refreshments 350 Clubhouse 500 Balance c/d 3, 250 4, 350 2000 3, 250 Jan 1 Balance b/d
Weekend Football Club Receipts and Payments Account $ $ 1999 2, 000 Dec 31 Football Equipment 250 Jan 1 Balance b/d 1, 000 Cost of Refreshments 200 Dec 31 Subscriptions Entrance Fees 400 Sundry Expenses 150 Collections at Matches 600 Maintenance of Sale of Refreshments 350 Clubhouse 500 Balance c/d 3, 250 4, 350 2000 3, 250 Jan 1 Balance b/d Can you prepare the Income and Expenditure Account for the year ended 31 December 1999?
Weekend Football Club Receipts and Payments Account $ $ 1999 2, 000 Dec 31 Football Equipment 250 Jan 1 Balance b/d 1, 000 Cost of Refreshments 200 Dec 31 Subscriptions Entrance Fees 400 Sundry Expenses 150 Collections at Matches 600 Maintenance of Sale of Refreshments 350 Clubhouse 500 Balance c/d 3, 250 4, 350 2000 3, 250 Jan 1 Balance b/d Weekend Football Club Income and Expenditure Account for the year ended 31 December 1999 Expenditure $ Income $
Weekend Football Club Receipts and Payments Account $ $ 1999 2, 000 Dec 31 Football Equipment 250 Jan 1 Balance b/d 1, 000 Cost of Refreshments 200 Dec 31 Subscriptions Entrance Fees 400 Sundry Expenses 150 Collections at Matches 600 Maintenance of Sale of Refreshments 350 Clubhouse 500 Balance c/d 3, 250 4, 350 2000 3, 250 Jan 1 Balance b/d Weekend Football Club Income and Expenditure Account for the year ended 31 December 1999 Expenditure $ Income $ Cost of Refreshments 200 Subscriptions 1, 000 Sundry Expenses 150 Entrance Fees 400 600 Maintenance of Clubhouse 500 Collections at Matches Surplus 1, 500 Sale of Refreshments 350 2, 350
End of lesson 2: 1 period (35 min)
Trading Account • Clubs and societies are not formed with a view to make profit. • Clubs may operate a restaurant or bar selling refreshment and food to members. • A Trading Account is prepared to determine the profit or loss. • Records of stock of refreshment, refreshment debtors and creditors will be needed. • Adjustments to find out the exact amount of sales, purchases and other expenses will be required to prepare the Trading Account.
Preparing the Refreshment Trading Account for Weekend Golf Club…
Weekend Golf Club provided the following information: Receipts and Payments Account for the year ended 31 June 2000 Refreshment debtors Sale of refreshment $ 4, 000 8, 000 $ Refreshment creditors 1, 000 Wages for the preparation of refreshments 3, 000 Cost of refreshment 5, 000 Additional Information: Refreshment stock Refreshment debtors 1 July 1999 $ 2, 000 500 Refreshment creditors Accrued wages for the preparation of refreshments 31 June 2000 $ 3, 500 6, 500 900 3, 000 700 1, 000
Step 1: Calculate Credit Sales of Refreshments
Weekend Golf Club provided the following information: Receipts and Payments Account for the year ended 31 June 2000 Refreshment debtors Sale of refreshment $ 4, 000 8, 000 $ Refreshment creditors 1, 000 Wages for the preparation of refreshments 3, 000 Cost of refreshment 5, 000 Additional Information: Refreshment stock Refreshment debtors 1 July 1999 $ 2, 000 500 Refreshment creditors Accrued wages for the preparation of refreshments 31 June 2000 $ 3, 500 6, 500 900 3, 000 700 1, 000
Step 1: Calculate Credit Sales of Refreshments Refreshment Debtors’ Account 1999 $ 2000 $ Jul 1 Balance b/d 500 Jun 30 Cash or Bank 4, 000 Sales 10, 000 Balance c/d 6, 500 2000 Jul 1 Balance c/d 10, 500 6, 500 Credit sales $10, 000 is the balancing figure. 10, 500
Step 2: Calculate Total Sales of Refreshments
Step 2: Calculate Total Sales of Refreshments $ Credit Sales of Refreshments Cash Sales of Refreshments 10, 000 8, 000 Total Sales of Refreshments 18, 000 $18, 000 is transferred to the Trading Account
Step 3: Calculate Credit Purchases of Refreshments
Weekend Golf Club provided the following information: Receipts and Payments Account for the year ended 31 June 2000 Refreshment debtors Sale of refreshment $ 4, 000 8, 000 $ Refreshment creditors 1, 000 Wages for the preparation of refreshments 3, 000 Cost of refreshment 5, 000 Additional Information: Refreshment stock Refreshment debtors 1 July 1999 $ 2, 000 500 Refreshment creditors Accrued wages for the preparation of refreshments 31 June 2000 $ 3, 500 6, 500 900 3, 000 700 1, 000
Step 3: Calculate Credit Purchases of Refreshments Refreshment Creditors’ Account 2000 $ 1999 Jun 30 Cash or Bank 1, 000 Jul 1 Balance b/d Purchases Balance c/d 3, 000 $ 900 3, 100 4, 000 2000 Jul 1 Balance c/d 3, 000 Credit purchases $3, 100 is the balancing figure.
Step 4: Calculate Total Purchases of Refreshments $ Credit Purchases of Refreshments Cash Purchases of Refreshments 3, 100 5, 000 Total Purchases of Refreshments 8, 100 $8, 100 is transferred to the Trading Account
Step 5: Calculate wages for the preparation of refreshment
Weekend Golf Club provided the following information: Receipts and Payments Account for the year ended 31 June 2000 Refreshment debtors Sale of refreshment $ 4, 000 8, 000 $ Refreshment creditors 1, 000 Wages for the preparation of refreshments 3, 000 Cost of refreshment 5, 000 Additional Information: Refreshment stock Refreshment debtors 1 July 1999 $ 2, 000 500 Refreshment creditors Accrued wages for the preparation of refreshments 31 June 2000 $ 3, 500 6, 500 900 3, 000 700 1, 000
Step 5: Calculate wages for the preparation of refreshment Wages Account 2000 $ 1999 Jun 30 Cash or Bank 3, 000 Jul 1 Balance c/d 1, 000 4, 000 Balance b/d Trading A/c $ 700 3, 100 4, 000 2000 Jul 1 Balance c/d 1, 000 Wages $3, 100 incurred for the year is the balancing figure.
Step 6: Prepare the Refreshment Trading Account Weekend Golf Club Refreshment Trading Account for the year ended 30 June 2000 $ Opening Stock Add Purchases Less Closing Stock 2, 000 Sales 8, 100 10, 100 (3, 500) 6, 600 11, 400 18, 000 Wages for preparation of Gross Profit refreshment 3, 100 Net Profit 8, 300 11, 400 $ 18, 000 Cost of Sales Gross Profit 18, 000 11, 400
Step 7: Transferring refreshment net profit to the Income and Expenditure Account Weekend Golf Club Income and Expenditure Account for the year ended 30 June 2000 Debit all current year revenue expenditure Credit all current year revenue receipts
Step 7: Transferring refreshment net profit to the Income and Expenditure Account Weekend Golf Club Income and Expenditure Account for the year ended 30 June 2000 $ $ Net Profit from Refreshments 8, 300
End of lesson 3: 2 periods (70 min)
Balance Day Adjustments • Most records of clubs are kept using the single- entry system. • Balance day adjustments are needed to get the necessary data to prepare the accounts.
Balance Day Adjustments are usually made to the following: • Subscription Account – to find exact subscription for the year. • Trading Account – to find sales, purchases, expenses incurred for the year. • Other revenue generating activities – to find net gain or loss from the event. • Disposal of new assets and acquisition of new assets – to record a gain or loss on disposal.
Balance Day Adjustments are usually made to the following: • Subscription Account – to find exact subscription for the year. • Trading Account – to find sales, purchases, expenses incurred for the year. • Other revenue generating activities – to find net gain or loss from the event. • Disposal of new assets and acquisition of new assets – to record a gain or loss on disposal.
Subscription Account n Members’ subscriptions make up the main source of a club or society’s income. n Club needs to know its exact subscription income to find out if it is able to finance its normal operations. Problem: Not every member will pay on time.
Subscription Account n Subscription is a revenue receipt and recorded in the Subscription Account. n Subscription owed by members is known as subscription due or subscription in arrears. n Subscription paid by members in the current financial year for the next financial year is known as subscription in advance.
Subscription Account n When an arrears or advance payment happens, n adjustments in the preparation of the Subscription Account have to be made n so that only the amount of revenue earned during the current year n is included in the current year’s Income and Expenditure Account n according to the matching principle.
Dr Subscriptions Account $ Cr $ Subscription in arrears b/d (not collected during the previous year) Subscription received in advance b/d (collected in the previous year) Income & Expenditure Account (exact amount of Subscription revenue for the current year) Total cash received as subscription during the current year Subscription in advance c/d (collected for subsequent year) Subscription in arrears c/d (not yet received for the current year)
Weekdays Country Club has the following in the books: Receipts and Payments Account for the year ended 31 Jun 2000 $ $ Subscription 5, 500 Additional information: 1 Jul 1999 $ Subscription in arrears 1, 500 Subscription in advance 600 31 Jun 2000 $ 850 900 Question: What would the Subscription Account look like?
Subscriptions Account 1999 Jul 1 $ Balance b/d 1, 500 1999 Jul 1 2000 Jun 30 Income and Jun 30 Expenditure A/c 4, 550 Balance c/d $ Balance b/d Bank Balance c/d 5, 500 850 900 6, 950 2000 Jul 1 600 Balance b/d In this example, the subscription for the current year is the balancing figure. 2000 850 Jul 1 6, 950 Balance b/d 900
Subscriptions Account 1999 Jul 1 $ Balance b/d 1, 500 1999 Jul 1 2000 Jun 30 Income and Jun 30 Expenditure A/c 4, 550 Balance c/d 2000 Jul 1 $ Balance b/d Bank Balance c/d 5, 500 850 900 6, 950 Balance b/d 600 850 6, 950 2000 Jul 1 Balance b/d 900 Income and Expenditure Account for the year ended 30 June 2000 $ $
Subscriptions Account 1999 Jul 1 $ Balance b/d 1, 500 1999 Jul 1 2000 Jun 30 Income and Jun 30 Expenditure A/c 4, 550 Balance c/d $ Balance b/d Bank Balance c/d 600 5, 500 850 900 6, 950 2000 850 900 Jul 1 Balance b/d Income and Expenditure Account for the year ended 30 June 2000 $ $ Subscription 4, 550
Subscriptions Account 1999 Jul 1 $ Balance b/d 1, 500 1999 Jul 1 2000 Jun 30 Income and Jun 30 Expenditure A/c 4, 550 Balance c/d $ Balance b/d Bank Balance c/d Balance b/d 850 6, 950 2000 Jul 1 Balance b/d Balance Sheet as at 30 June 2000 $ Current Assets 5, 500 900 6, 950 2000 Jul 1 600 Current Liabilities 900 $
Subscriptions Account 1999 Jul 1 $ Balance b/d 1, 500 1999 Jul 1 2000 Jun 30 Income and Jun 30 Expenditure A/c 4, 550 Balance c/d $ Balance b/d Bank Balance c/d 5, 500 850 900 6, 950 Balance Sheet as at 30 June 2000 $ Current Assets Subscription in arrears 600 $ Current Liabilities 850 Subscription in advance 900
Balance Day Adjustments are usually made to the following: • Subscription Account – to find exact subscription for the year. • Trading Account – to find sales, purchases, expenses incurred for the year. • Other revenue generating activities – to find net gain or loss from the event. • Disposal of new assets and acquisition of new assets – to record a gain or loss on disposal.
Balance Day Adjustments are usually made to the following: • Subscription Account – to find exact subscription for the year. • Trading Account – to find sales, purchases, expenses incurred for the year. • Other revenue generating activities – to find net gain or loss from the event. • Disposal of new assets and acquisition of new assets – to record a gain or loss on disposal.
Other Revenue Generating Activities n Examples are charging for the use of club facilities or holding dances and socials. n Expenses incurred from these activities must be deducted from the related revenue obtained to show a GAIN or LOSS. n The net proceeds from such activities are part of the current operating revenue and recorded in the Income and Expenditure Account.
Example: Everyday Dance Club held a dance competition for its members. Registration fees collected was $330. Prizes and refreshments for the competitors amounted to $200. What is the gain or loss from this event? Everyday Dance Club Income and Expenditure Account for the year ended 31 Jun 2000 $ $ Gain from dance competition ($330 -$200) 130
Balance Day Adjustments are usually made to the following: • Subscription Account – to find exact subscription for the year. • Trading Account – to find sales, purchases, expenses incurred for the year. • Other revenue generating activities – to find net gain or loss from the event. • Disposal of new assets and acquisition of new assets – to record a gain or loss on disposal.
Disposal of Old Asset and Acquisition of New Asset n Whenever a non-trading organisation disposes an asset, it can make a “gain” or “loss” due to previous under-provision or over-provision of depreciation. n “Gain” or “loss” is usually treated as a revenue item. n “Gain” or “loss” is normally not capitalised. n “Gain” or “loss” is recorded in the Income and Expenditure Account.
Weekdays Football Club has the following in the books: Receipts and Payments Account for the year ended 31 Jun 2000 $ $ New football Sale of surplus equipment 300 football equipment (book value $200) 150 Additional information: Football equipment at valuation 1 Jul 1999 $ 500 31 Jun 2000 $ 550 Questions: - Is there a GAIN or LOSS on disposal? -What is the DEPRECIATION for the year?
Weekdays Football Club has the following in the books: Receipts and Payments Account for the year ended 31 Jun 2000 $ $ New football Sale of surplus equipment 300 football equipment (book value $200) 150 Additional information: Football equipment at valuation 1 Jul 1999 $ 500 31 Jun 2000 $ 550 Questions: - Is there a GAIN or LOSS on disposal?
Is there a GAIN or LOSS on disposal? Sale of surplus football equipment $150 Book value of equipment sold $200 Loss on sale of football equipment $50 Weekdays Football Club Income and Expenditure Account for the year ended 31 Jun 2000 $ $ Loss on sale of football Equipment ($150 -$200) 50
Weekdays Football Club has the following in the books: Receipts and Payments Account for the year ended 31 Jun 2000 $ $ New football Sale of surplus equipment 300 football equipment (book value $200) 150 Additional information: Football equipment at valuation 1 Jul 1999 $ 500 31 Jun 2000 $ 550 Questions: -What is the DEPRECIATION for the year?
What is the DEPRECIATION for the year? 2 methods to arrive at the answer …. Method 1: Balance as at 1 Jul 1999 Add Purchases Less Sale of equipment 500 300 800 (200) 600 Depreciation = $600 - $550 = $50
What is the DEPRECIATION for the year? 2 methods to arrive at the answer …. Method 2: Football Equipment Account Balance b/d Purchases $ 500 Depreciation 300 Disposal Balance c/d 800 $ 50 200 550 800
What is the DEPRECIATION for the year? Remember to show your working for calculating depreciation whatever method you use …. Weekdays Football Club Income and Expenditure Account for the year ended 31 Jun 2000 $ Depreciation of football equipment 50 Loss on sale of football equipment 50 $
End of lesson 4: 2 periods (70 min)
Accumulated Fund What is it? n Equivalent to the Capital Account of a trading concern. Recall: For a trading concern: CAPITAL = ASSETS - LIABILITIES For a non-trading concern: ACCUMULATED FUND = ASSETS - LIABILITIES
Accumulated Fund What affects it? n Legacy Money collected for capital purpose, eg. construction of n clubhouse Surplus of income over expenditure Deficit of income over expenditure is DEBITED to the ACCUMULATED FUND n Final balance of the accumulated fund represents These will increase the accumulated fund are CREDITED to the ACCUMULATED FUND. the NET VALUE of the club at the end of the accounting year.
Weekend Rollarblading Club has the following in its books: Receipts and Payments Account 2000 $ 2000 2, 000 Dec 31 Rent Jan 1 Balance b/d Extension Dec 31 Locker fees 500 to clubhouse Subscription: Sundry exp • 1999 100 • 2000 300 • 2001 150 $ 1, 500 1, 900 120 On 1 Jan 2000, the club had the following assets: Rollarblading equipment $600 Clubhouse $12, 000 Additional information: • Rent paid included $500 for accrued rent from the previous year. • As at 31 Dec 2000, accrued locker fees was $210.
What information would I need to calculate the Accumulated Fund as at 1 Jan 2000?
Weekend Rollarblading Club has the following in its books: Receipts and Payments Account 2000 $ 2000 2, 000 Dec 31 Rent Jan 1 Balance b/d Extension Dec 31 Locker fees 500 to clubhouse Subscription: Sundry exp • 1999 100 • 2000 300 • 2001 150 $ 1, 500 1, 900 120 On 1 Jan 2000, the club had the following assets: Rollarblading equipment $600 Clubhouse $12, 000 Additional information: • Rent paid included $500 for accrued rent from the previous year. • As at 31 Dec 2000, accrued locker fees was $210.
Calculation of Accumulated Fund as at 1 Jan 2000: Assets Cash at Bank Subscription in arrears Rollarblading equipment Clubhouse $ 2, 000 100 600 12, 000 14, 700 Less: Liabilities Accrued rent (500) Accumulated fund as at 1 Jan 2000 14, 200 Receipts and Payments A/c as at 1 Jan 2000
Presentation … Weekend Rollarblading Club Balance Sheet as at 31 December 2000 Accumulated Fund Balance as at 1/1/2000 Add Surplus $ 14, 200 XXX Balance as at 31/12/2000 XXX
End of lesson 5: 1 period (35 min)
- Slides: 92