Club Accounts Test

Question 1

Clubhouse and courts at cost buildings at cost

Answer 1

Asset
AF(asset)
Balance sheet(fixed asset)

Question 2

Bat stock (opening and closing)

Answer 2

Asset
AF(asset)
Balance sheet(current asset)

Question 3

Equipment at cost

Fixtures and fittings at cost

Answer 3

Asset
AF(asset)
Balance sheet( fixed asset)

Question 4

Bar debtors

Answer 4

Asset
AF(asset)
Balance sheet (Ca)

Question 5

Income due at the start of the year eg. Investment , income due, subscriptions due, levies due

Answer 5

Asset

AF(asset)

Question 6

Income due at the end of the year eg. Investment income due, subscriptions due, levies due

Answer 6

Asset
Balance sheet (ca)

Question 7

Investments

Answer 7

Asset
AF(asset)
BS(Financial asset)

Question 8

Opening bank balance

Answer 8

Asset

AF(asset)

Question 9

Closing bank balance

Answer 9

Asset

BS(ca)

Question 10

Any expenses prepaid at the start of the year eg. Wages prepaid

Answer 10

Asset

AF(asset)

Question 11

Any expenses prepaid at the end of the year eg. Wages prepaid

Answer 11

Asset

BS(ca)

Question 12

Prize bonds

Answer 12

Asset

BS(ca)

Question 13

Income earned during the year eg. Investment income for year, bar profit, subscriptions, sponsorship, profit made on the sale of a fixed asset

Answer 13

Income

Income and expenditure (income)

Question 14

Life memebership transferred to income and expenditure account

Answer 14

Income

Income and expenditure (income)

Question 15

Life memebership

Answer 15

Liability
AF(L)
BS(R)

Question 16

Levy reserve fund

Answer 16

Liability
AF(L)
BS(R)

Question 17

Bar creditors

Answer 17

Liability
AF(L)
BS( creditors: amounts falling due within 1 year)

Question 18

Loan

Answer 18

Liability
AF(L)
BS(R)

Question 19

Any expenses due at the start of the year eg. Load interest due, wage due

Answer 19

Liability

AF(L)

Question 20

Any expenses due at the end of the year eg. Loan, interest due, wages due

Answer 20

Liability

BS( creditors: amounts falling due within 1 year )

Question 21

Any income prepaid at the start of the year eg. Subscriptions prepaid

Answer 21

Liability

AF(L)

Question 22

Any income prepaid at the end of the year eg. Subscriptions prepaid

Answer 22

Liability

BS( creditors: amounts falling due within 1 year )

Question 23

Expenses incurred during the year eg. Coaching lessons, depreciation, loan interest for the year, loss in the sale of a fixed asset

Answer 23

Expense

Income and Expenditure ( expense. )