This information appeared in the books of Seaview Rugby Club:

These transactions took place between 1 July 20x2 and 30 June 20x3:

1. Total membership subscription fees received from existing members up to 30 June 20x3 came to R150.

This amount included R30 that was in arrears on 30 June 20x2, as well as the membership subscription fees of eight members who had paid R3 each for the year 1 July 20x3 to 30 June 20x4.

2. Nine members failed to pay their membership subscription fees of R3 each for the current year.

You are required to:

Prepare the membership subscription fees account, clearly showing the amount to be taken to the income and expenditure account.

Transcribed Image Text:

ABRIDGED STATEMENT Liabilities Membership subscription fees prepaid Accounts payable Accumulated fund Seaview Rugby Club OF FINANCIAL POSITION AS AT 30 JUNE 20x2 Assets 33 00 Cash in bank Membership subscription fees 173 00 in arrears 278 00 Sports equipment 484 00 227 00 39 00 ********* 218 00 484 00