(c) Prepare the revised income and expenditure account for the year ended 31 December 2021.[12]

To prepare a revised income and expenditure account for the year ended 31 December 2021, you would follow a structured approach. However, since no specific figures or additional information has been provided along with your request, I will outline the general process you would take to create such an account.

1. Break Down the Problem

You need to gather the following components for the income and expenditure account:

1. Income: List all sources of income such as membership fees, donations, grants, etc.
2. Expenditure: List all expenses such as salaries, utilities, maintenance, and other operational costs.
3. Adjustments: Identify and incorporate any necessary adjustments (e.g., depreciation, previous year’s carry forwards).

2. Relevant Concepts

The income and expenditure account follows this structure:

$\text{Income} - \text{Expenditure} = \text{Surplus/Deficit}$

Where:

• Income includes all revenue streams.
• Expenditure includes all incurred costs within the period.

3. Analysis and Detail

Once you have your figures:

1. Calculate Total Income: Sum all individual income sources.
2. Calculate Total Expenditure: Sum all individual expenditure items.
3. Calculate Surplus/Deficit: Subtract total expenditure from total income.

4. Verify and Summarize

Ensure all amounts are accurate and properly categorized under respective headings. Review for any potential errors in the adjustment calculations.

Sample Structure of Income and Expenditure Account

Here is a simplified example format:

Income and Expenditure Account for the Year Ended 31 December 2021

| Particulars                         | Amount ($)  |
|-------------------------------------|-------------|
| Income:                             |             |
| - Membership Fees                   | XX,XXX      |
| - Donations                         | XX,XXX      |
| - Grants                            | XX,XXX      |
| **Total Income**                   | **XX,XXX**  |
|                                     |             |
| Expenditure:                       |             |
| - Salaries                          | XX,XXX      |
| - Utilities                         | XX,XXX      |
| - Maintenance                       | XX,XXX      |
| **Total Expenditure**              | **XX,XXX**  |
|                                     |             |
| Surplus/Deficit                    |  XX,XXX     |

Final Answer

To complete your income and expenditure account, enter the relevant figures into this structure. The final answer will show whether there is a surplus or deficit for the year 2021 based on your calculations. If you have specific figures to input, please provide them for a more accurate computation.