Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 QUESTION 1 Fungu is a sports cub that was opened two years ago around Makhado. It accepts all people in and around the Makhado
QUESTION
Fungu is a sports cub that was opened two years ago around Makhado. It accepts all people in and around the Makhado who wants to be developed in all kinds of sports. Members pay a subscription tee of R per year.
On November Fungu sports club had the following information.
A The following balances and totals were extracted on November :
tableBankRStock on hand,Amount owed for insurance,Membership fees in arrears,Snvings account: paEuupment at costIncome received in advance membership feesVehicle at cost
B The treasure of Fungu was able to present the following information about the iports centre on
October :
tableRECIEPTSPAYMENTSRRDonation from members,Rent expense,Tuck shop sales,Membership fees refunded,Membership fees:,,Stationery,Refreshments,Honorarium,Insurance,Interest on savings account,Purchases,
ADDITIONAL INFORMATION
Stock on hand or the bar as on October R
Five members must still pay their subscription fees for
The committee for the sports club decided to write off any arrears of affiliation fees for the year ending
of the donations received by the club must be capitalised.
Provide for the outstanding interest on the savings account.
An amount of R which is still payable for administration expenses was by mistake included I the honorarium account.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started