Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I'm posting this for the second time now,it was never responded to yesterday FME50AB 2020 Assignment 3: Calculating school fees Imagine that you are the

image text in transcribed

I'm posting this for the second time now,it was never responded to yesterday

FME50AB 2020 Assignment 3: Calculating school fees Imagine that you are the treasurer of the governing body of MORNINGSIDE PRIMARY SCHOOL. Calculate the amount of school fees to be charged per learner during 2019. The following information is available: 1. During 2018, 420 learners attended the school. It is expected that the number of learners attending the school will increase by 20% during 2019. 2. The governing body calculates that the total expenditure during 2019 will be as follows: Stationery Annual matric dance Postage Photocopying charges Bank charges Telephone Transport Textbooks Awards ceremony Petty cash float Annual athletic meeting Library books Total expenditure 22 000.00 30 000.00 2 600.00 18 000.00 4 500.00 19 500.00 25 500.00 84 000.00 18 000.00 5 000.00 25 000.00 21 000.00 R 275 100.00 3. The governing body expects to receive the following income in 2019. This is a list of expected income - excluding school fees: Interest on favourable balance in bank Donations Fundraising (various activities) Total income R 5 500.00 R 21 000.00 R 32 200.00 R 58 700.00 (Note that the State's allocation is not shown above and should not be brought into the calculation). 4. During this year, 2018, the parents of 10 learners were unable to afford the school fees. We accepted their reasons as valid and acceptable. In 2019, it is expected that 14 learners will not be able to pay school fees. Calculate the school fees for 2019 (Round final amount off to the next R10)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Digital Finance Big Data Start-ups And The Future Of Financial Services

Authors: Perry Beaumont

1st Edition

0367146797, 978-0367146795

More Books

Students also viewed these Finance questions

Question

Have you laid out a timeframe for refreshing the data regularly?

Answered: 1 week ago

Question

Have you laid out the information as clearly as possible?

Answered: 1 week ago

Question

Have you tested your findings with those closest to the market?

Answered: 1 week ago