CHAPTER 13 ASSIGNMENT 4 The following balances were obtained from the accounting records of Timbuli Golf Club: The following cash transactions took place during the year ending 31 December \\( 200 \\mathrm{Y} \\) : Additional information: 1. The club has 84 members and membership fees amount to R1 200 per member per annum. 2. Outstanding membership fees for \\( 200 X \\) must be written off. 3. Inventory on hand on 31 December 200Y: Refreshments R 360 Golf balls R2100 4. Wages of R1 800 is still outstanding. 5. Used equipment with a cost price of R6 000 and accumulated depreciation of R4800 on 1 January \\( 200 \\mathrm{Y} \\) was sold for cash at the carrying amount on 3 January \\( 200 \\mathrm{Y} \\). 6. Depreciation on equipment must still be provided for at \20 p.a. according to the reducing balance method. 7. The income from the special fund may only be used for the payment of championship entrance fees of members who wish to qualify for the professional tour. 8. Donations received must be capitalised. You are required to: 1. Prepare the membership fees, the special fund and the investment accounts in the general ledger for the year ending 31 December \\( 200 \\mathrm{Y} \\) and close them off properly. 2. Prepare the statement of income and expenditure for the year ending 31 December \\( 200 Y \\). 3. Prepare the statement of changes in funds for the year ending 31 December \\( 200 \\mathrm{Y} \\). 4. Prepare the statement of financial position on 31 December \\( 200 \\mathrm{Y} \\). NB: Round off to the nearest rand