Accounting – 5.4 Clubs and societies | e-Consult
5.4 Clubs and societies (1 questions)
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Income and Expenditure Account Analysis
1. Total Income:
Fees Received = £3,000
2. Total Expenditure:
Rent = £600
Salaries = £900
Repairs = £300
Depreciation = £150
Total Expenditure = £600 + £900 + £300 + £150 = £1,950
3. Profit or Loss:
Profit or Loss = Total Income - Total Expenditure
Profit or Loss = £3,000 - £1,950 = £1,050
Therefore, the club made a profit of £1,050 for the year.