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I need help in this question. Please do it correctly and 100%. Please do not make any mistake in this 5 5 points A group
I need help in this question. Please do it correctly and 100%. Please do not make any mistake in this
5 5 points A group of civic-minded merchants in Eldora organized the Committee of 100 for establishing the Community Sports Club, a not-for- profit sports organization for local youth. Each of the committee's 100 members contributed $1.000 toward the club's capital and. In tum, received a participation certificate. In addition, each participant agreed to pay dues of $200 a year for the club's operations. All dues have been collected in full by the end of each fiscal year ending March 31. Members who have discontinued their participation have been replaced by an equal number of new members through transfer of the participation certificates from the former members to the new ones. Following is the club's trial balance for April 1, 20X2: Book Print Cash Investments (at market, equal to cost) Inventories Land Building Accumulated Depreciation-Building Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Participation Certificates (109 at $1,000 each) Cumulative Excess of Revenue over Expenses Total Debit Credit $ 9,880 58,888 5,000 10.00 164,000 $130,880 54,880 46,00 12,880 188,888 12,080 $300,680 $300,000 References Transactions for the year ended March 31, 20X3.follow: $28,eee 28,eee 6,eee Collections from participants for dues Snack bar and soda fountain sales Interest and dividends received Additions to voucher : registe House expenses Snack bar and soda fountain General and administrative Vouchers paid Assessments for capital improvements not yet incurred (assessed on March 20, 20x3; none collected by March 31, 28x3; deened 1827 collectible during year ending March 31, 2ex4) Unrestricted bequest received 17,600 26,eee 11,000 55,00 10,eee 5,80 5 collectible during year ending March 31, 28x4) Unrestricted bequest received 10,000 5, eee Adjustment Data: points 1. Investments are valued at market, which totaled $65.000 on March 31, 20X3. There were no investment transactions during the year. 2. Depreciation for year: eBook Building Furniture and equipment $ 4,000 8,03e Print 3. Allocation of depreciation: Peterences House expenses Snack bar and soda fountain General and administrative $ 9,eee 2,eee 1,eee 4. Actual physical inventory on March 31, 20X3. was $1,000 and pertains to the snack bar and soda fountain. Requlred: a. Record the transactions and adjustments in journal entry form for the year ended March 31, 20X3. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) 5 Required: a. Record the transactions and adjustments in journal entry form for the year ended March 31, 20X3. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) 5 points View transaction list Journal entry worksheetStep by Step Solution
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