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Flashcards in Club Accounts Test Deck (23):
1

Clubhouse and courts at cost buildings at cost

Asset
AF(asset)
Balance sheet(fixed asset)

2

Bat stock (opening and closing)

Asset
AF(asset)
Balance sheet(current asset)

3

Equipment at cost
Fixtures and fittings at cost

Asset
AF(asset)
Balance sheet( fixed asset)

4

Bar debtors

Asset
AF(asset)
Balance sheet (Ca)

5

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

Asset
AF(asset)

6

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

Asset
Balance sheet (ca)

7

Investments

Asset
AF(asset)
BS(Financial asset)

8

Opening bank balance

Asset
AF(asset)

9

Closing bank balance

Asset
BS(ca)

10

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

Asset
AF(asset)

11

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

Asset
BS(ca)

12

Prize bonds

Asset
BS(ca)

13

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

Income
Income and expenditure (income)

14

Life memebership transferred to income and expenditure account

Income
Income and expenditure (income)

15

Life memebership

Liability
AF(L)
BS(R)

16

Levy reserve fund

Liability
AF(L)
BS(R)

17

Bar creditors

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

18

Loan

Liability
AF(L)
BS(R)

19

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

Liability
AF(L)

20

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

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

21

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

Liability
AF(L)

22

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

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

23

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

Expense
Income and Expenditure ( expense. )