问答题 The assets and liabilities of the Music Club on 1 January 2002 were as follows: ＄ Clubhouse 1,375,000 Music Equipment (Cost) 300,000 Music Equipment (Book Value) 175,000 Bank & Cash 533,500 Bar Stock 145,500 Bar Debtors 15,500 Rates Prepaid 34,000 Subscriptions-in Arrear 5,500 Subscriptions-in Advance 23,500 Bar Creditor 63,500 Loan to Club 540,000 Accruals-Electricity 19,000 Accruals- Miscellaneous Expenses 37,500 Accruals-Loan Interest 16,500 Accruals-Rent of Music Ground 11,000 The receipts and payments account for the year ended 31 December 2001 shown below was prepared by the honorary treasurers. {{B}} Receipts{{/B}} ＄ ＄ Bar Sales 2,015,000 Telephone 2,000 Hire of Music Facilities 890,000 Christmas Party 88,500 Miscellaneous 43,000 Subscriptions {{U}}170,000{{/U}} 3,208,500 {{B}} Payments{{/B}} Bar Purchases 1,468,500 Loan Repayment 85,000 Rent of Music Ground 49,000 Rates 160,000 Electricity 153,000 Equipment Repairs 163,000 Expenses of Christmas Party 33,500 Maintenance 66,500 Wages 70,000 Telephone 6,500 Bar Sundries 72,000 Loan Interest 48,500 Miscellaneous {{U}}81,500{{/U}} {{U}}2,457,000{{/U}} Increase in Bank 751,500 Bank Balance 1 January 2002 {{U}}533,500{{/U}} Bank Balance 31 December 2002