Clubs and societies

Worked examples (10)

• 1What goes in it? (4 marks)
• 2Closing cash balance (4 marks)
• 3Prepare a receipts and payments account (6 marks)
• 4Receipts u0026 payments vs income u0026 expenditure (4 marks)
• 5Capital or revenue item? (4 marks)
• 6Uses of the account (4 marks)
• 7Limitations of the account (5 marks)
• 8Cash balance is not a surplus (4 marks)
• 9Feeding the subscriptions account (4 marks)
• 10Converting a payment to an expense (4 marks)

Model answers (10)

• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style

Worked examples (10)

• 1Arrears or advance? (3 marks)
• 2Income with closing arrears only (4 marks)
• 3Income with closing advance (4 marks)
• 4Opening and closing balances (5 marks)
• 5Full subscriptions T-account (6 marks)
• 6Write off irrecoverable subscriptions (5 marks)
• 7Find the cash received (5 marks)
• 8Year-end balances on the SOFP (4 marks)
• 9Why adjust cash received (4 marks)
• 10Subscriptions vs life membership (3 marks)

Model answers (10)

• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style

Worked examples (10)

• 1Surplus or deficit? (3 marks)
• 2Which items appear? (4 marks)
• 3Subscriptions income line (4 marks)
• 4Adjusted expense line (5 marks)
• 5Net profit of a bar (5 marks)
• 6Charge depreciation (4 marks)
• 7Find the surplus (6 marks)
• 8Update the accumulated fund (4 marks)
• 9An activity that makes a loss (4 marks)
• 10Why not just use cash (4 marks)

Model answers (10)

• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style

Worked examples (10)

• 1Why not all income now? (4 marks)
• 2Annual life-membership income (3 marks)
• 3Life membership fund entries (5 marks)
• 4Fund balance after several years (4 marks)
• 5Revenue or capital donation? (4 marks)
• 6Capitalise a large donation (4 marks)
• 7Total special income for the year (4 marks)
• 8Avoid double-counting (4 marks)
• 9Factors deciding the treatment (4 marks)
• 10Where each item appears (4 marks)

Model answers (10)

• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style

Worked examples (10)

• 1What is the accumulated fund? (3 marks)
• 2Asset or liability? (4 marks)
• 3Opening accumulated fund (5 marks)
• 4Closing accumulated fund (4 marks)
• 5Effect of a deficit (4 marks)
• 6Capitalised life membership (5 marks)
• 7Find the surplus from the funds (5 marks)
• 8Verify with a closing statement of affairs (6 marks)
• 9Present the fund in the SOFP (4 marks)
• 10Why a statement of affairs is needed (4 marks)

Model answers (10)

• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style
• ✓Model answer — 9706 Paper 2 style