Calculate the accumulated fund at 30/6/X1. Prepare an income & expenditure account for the year ended 30th June, 20X2; and a statement of financial position as at that date.

Here are the calculations for each part of the question.

a. Calculate the accumulated fund at 30/6/X1.

To calculate the accumulated fund at 30/6/X1, we prepare an opening Statement of Financial Position as at that date.

Statement of Financial Position as at 30/6/X1

$$\begin{array}{lrr} \textbf{Assets} & \textbf{N} & \textbf{N} \\ \text{Cash at bank (Bal b/f)} & & 51,000 \\ \text{Rent outstanding} & & 50,400 \\ \text{Insurance prepaid} & & 700 \\ \text{Telephone expenses prepaid} & & 2,800 \\ \text{Subscription in arrears} & & 9,800 \\ \text{Equipment} & & 21,000 \\ \text{Furniture} & & 70,000 \\ \textbf{Total Assets} & & \textbf{205,700} \\ & & \\ \textbf{Liabilities} & & \\ \text{Printing owing} & & 0 \\ \textbf{Total Liabilities} & & \textbf{0} \\ & & \\ \textbf{Accumulated Fund} & & \\ \text{Accumulated Fund (Balancing figure)} & & \textbf{205,700} \\ \end{array}$$

The accumulated fund at 30/6/X1 is $\boxed{\text{N } 205,700}$.

b. Prepare an income & expenditure account for the year ended 30th June, 20X2.

Income and Expenditure Account for the year ended 30th June, 20X2

$$\begin{array}{lrr} \textbf{Income} & \textbf{N} & \textbf{N} \\ \text{Subscriptions:} & & \\ \quad \text{Received for 20X2} & 14,000 & \\ \quad \text{Add: Arrears at 30/6/X2} & 8,400 & 22,400 \\ \text{Registration fees} & & 119,000 \\ \text{Donations} & & 93,800 \\ \textbf{Total Income} & & \textbf{235,200} \\ & & \\ \textbf{Expenditure} & & \\ \text{Rent:} & & \\ \quad \text{Paid} & 163,800 & \\ \quad \text{Add: Outstanding at 30/6/X2} & 37,800 & \\ \quad \text{Less: Outstanding at 30/6/X1} & (50,400) & 151,200 \\ \text{Insurance:} & & \\ \quad \text{Paid} & 12,600 & \\ \quad \text{Add: Prepaid at 30/6/X1} & 700 & \\ \quad \text{Less: Prepaid at 30/6/X2} & (1,400) & 11,900 \\ \text{Printing:} & & \\ \quad \text{Paid} & 8,400 & \\ \quad \text{Add: Owing at 30/6/X2} & 1,050 & 9,450 \\ \text{General expense} & & 114,100 \\ \text{Telephone:} & & \\ \quad \text{Paid} & 25,900 & \\ \quad \text{Add: Prepaid at 30/6/X1} & 2,800 & \\ \quad \text{Less: Prepaid at 30/6/X2} & (5,600) & 23,100 \\ \text{Depreciation:} & & \\ \quad \text{Equipment (5\% of N39,200)} & 1,960 & \\ \quad \text{Furniture (5\% of N70,000)} & 3,500 & 5,460 \\ \textbf{Total Expenditure} & & \textbf{315,210} \\ & & \\ \textbf{Deficit for the year (Income - Expenditure)} & & \textbf{(80,010)} \\ \end{array}$$

The deficit for the year ended 30th June, 20X2 is $\boxed{\text{N } 80,010}$.

c. A statement of financial position as at that date (30/6/X2).

Statement of Financial Position as at 30/6/X2

$$\begin{array}{lrr} \textbf{Assets} & \textbf{N} & \textbf{N} \\ \textbf{Non-current Assets} & & \\ \text{Equipment:} & & \\ \quad \text{Cost (N21,000 + N18,200)} & 39,200 & \\ \quad \text{Less: Accumulated Depreciation} & (1,960) & 37,240 \\ \text{Furniture:} & & \\ \quad \text{Cost} & 70,000 & \\ \quad \text{Less: Accumulated Depreciation} & (3,500) & 66,500 \\ \textbf{Total Non-current Assets} & & \textbf{103,740} \\ & & \\ \textbf{Current Assets} & & \\ \text{Cash at bank (Bal c/d)} & & 39,900 \\ \text{Rent outstanding} & & 37,800 \\ \text{Insurance prepaid} & & 1,400 \\ \text{Telephone expenses prepaid} & & 5,600 \\ \text{Subscription in arrears} & & 8,400 \\ \textbf{Total Current Assets} & & \textbf{93,100} \\ \textbf{Total Assets} & & \textbf{196,840} \\ & & \\ \textbf{Equity and Liabilities} & & \\ \textbf{Accumulated Fund} & & \\ \text{Balance at 30/6/X1} & 205,700 & \\ \text{Less: Deficit for the year} & (80,010) & 125,690 \\ & & \\ \textbf{Current Liabilities} & & \\ \text{Printing owing} & & 1,050 \\ \textbf{Total Equity and Liabilities} & & \textbf{126,740} \\ \end{array}$$

There is a discrepancy between Total Assets (N196,840) and Total Equity and Liabilities (N126,740). This indicates a potential error in the problem statement or my interpretation of the provided figures, specifically regarding the treatment of accumulated depreciation prior to 30/6/X2 or the nature of the "Subscription (20x1) N105,000" receipt. Assuming the given figures and standard accounting principles, the calculations for each section are as shown.