please assist urgently:

The following information was taken from the accounting records of Sea View Golf Club:

SEA VIEW GOLF CLUB

STATEMENT OF FINANCIAL POSITION

AS AT

$3$

$1$

$$DECEMBER

$2$

$0$

$2$

$1$

$2$

$0$

$2$

$1$

R

ASSETS

Non

$-$

current assets

$2$

$6$

$9$

$0$

$0$

$0$

Property at cost

$2$

$5$

$0$

$0$

$0$

$0$

Furniture

Cost price

$2$

$0$

$0$

$0$

$0$

Less: Accumulated depreciation

$-$

$4$

$0$

$0$

$0$

Equipment

Cost price

$1$

$0$

$0$

$0$

$0$

Less: Accumulated depreciation

$-$

$7$

$0$

$0$

$0$

Current assets

$4$

$8$

$5$

$0$

$0$

Inventory

$1$

$0$

$1$

$0$

$0$

Bank

$3$

$8$

$4$

$0$

$0$

TOTAL ASSETS

$3$

$1$

$7$

$5$

$0$

$0$

FUNDS AND LIABILITIES

Accumulated funds

$1$

$2$

$0$

$0$

$0$

$0$

Opening balance

$9$

$0$

$0$

$0$

$0$

Surplus for the year

$3$

$0$

$0$

$0$

$0$

Current liabilities

Creditors

$1$

$9$

$7$

$5$

$0$

$0$

TOTAL FUNDS AND LIABILITIES

$3$

$1$

$7$

$5$

$0$

$0$

Additional information to be taking into account:

$1$

$.$

$$The following transactions took place during the year ending

$3$

$1$

$$December

$2$

$0$

$2$

$1$

:

R

Buildings purchased on cash

$1$

$0$

$0$

$0$

$0$

$0$

Entrance fees received

$1$

$0$

$0$

$0$

$0$

Sundry expenses paid

$3$

$0$

$0$

$0$

Other fees received

$1$

$4$

$0$

$0$

$0$

Insurance paid

$8$

$0$

$0$

Maintenance of golf course paid

$1$

$8$

$0$

$0$

$0$

Salaries paid

$1$

$7$

$0$

$0$

$0$

Stationery purchased

$1$

$0$

$0$

$0$

Membership fees received

$4$

$8$

$0$

$0$

$0$

Payments to creditors

$4$

$8$

$0$

$0$

$0$

$2$

$.$

$$Accrued membership fees on

$3$

$1$

$$December

$2$

$0$

$2$

$0$

$$amounted to R

$2$

$1$

$0$

$0$

$.$

$3$

$.$

$$Equipment must be depreciated at

$2$

$0$

$\%$

$$per annum on the cost price.

$4$

$.$

$$Furniture must be depreciated at

$5$

$\%$

$$per annum on the reducing balance method.

$5$

$.$

$$Membership fees received during the

$2$

$0$

$2$

$1$

$$financial year, include an amount of R

$4$

$2$

$0$

$0$

related to the

$2$

$0$

$2$

$2$

$$financial year.

$6$

$.$

$$Membership fees of R

$1$

$5$

$0$

$0$

$$are still outstanding on

$3$

$1$

$$December

$2$

$0$

$2$

$1$

$.$

$7$

$.$

$$Insurance premiums amount to R

$1$

$0$

$0$

$$per month.

$8$

$.$

$$Entrance fees must be capitalised

Question

$1$

:

Trail Climbing and Hiking offers a range of outdoor activities to surrounding communities in Waterberg. The non

$-$

profit organisation received R

$1$

$0$

$0$

$0$

$0$

$$entrance fees from its two new members. It is the policy of the entity to capitalise

$2$

$0$

$\%$

$$of the entrance fees received.

Determine the amount that will appear in the Statement of Income and Expenditure.

$$A

$.$

$$R

$9$

$0$

$0$

$0$

$$B

$.$

$$R

$8$

$0$

$0$

$0$

$$C

$.$

$$R

$5$

$0$

$0$

$0$

$$D

$.$

$$R

$2$

$0$

$0$

$0$

Question

$2$

:

A non

$-$

profit entity:

$$A

$.$

$$Can never enter any profitable projects

$$B

$.$

$$Aims to generate profit

$$C

$.$

$$Must apply any surplus to the benefit of its members

$$D

$.$

$$Distribute any surplus to its members

Question

$3$

:

Which of the following statement is correct regarding non

$-$

profit entities?

$$A

$.$

$$Where a profit is realised this is known as a surplus

$$B

$.$

$$Where a profit is realised this is known as a deficit

$$C

$.$

$$Where a profit is realised this is called a profit

$$D

$.$

$$Where a profit is realised this is called capitalised

Question

$4$

:

The statement of income and expenditure of a non

$-$

profit entity is used to:

$($

i

$)$

$$determine the results of the entity

$$

s activities for the financial period

$($

ii

$)$

$$portray profit or loss for the year

$($

iii

$)$

$$portray a surplus or deficit for the period

$($

iv

$)$

$$determine the cash on hand of the entity at a specific point in time.

$$A

$.$

$($

i

$)$

$$&

$($

ii

$)$

$$B

$.$

$($

i

$)$

$$&

$($

iii

$)$

$$C

$.$

$($

iii

$)$

$$&

$($

iv

$)$

$$D

$.$

$($

ii

$)$

$$&

$($

iv

$)$

Question

$5$

:

The following information was obtained from the records of Terrace Golf Club.

The following cash transactions took place during the year ending

$3$

$1$

$$December

$2$

$0$

$2$

$3$

$.$

The bank balance on

$1$

$$January

$2$

$0$

$2$

$3$

$$ was R

$5$

$0$

$0$

$0$

$.$

$$

R

Membership fees

$1$

$0$

$0$

$0$

Entrance fees

$$

$3$

$0$

$0$

Profit on sale of asset

$8$

$0$

$0$

$0$

Affiliation fees

$$

$7$

$0$

$0$

Championship fees

$$

$2$

$5$

$0$

$$

R

Golf equipment

$5$

$0$

$0$

Credit losses

$1$

$5$

$0$

$0$

Cost of refreshments

$2$

$5$

$0$

Sundry expenses

$1$

$5$

$0$

Depreciation

$2$

$0$

$0$

$0$

Loss on sale of asset

$2$

$5$

$0$

$0$

Maintenance of clubhouse

$3$

$0$

$0$

Calculate the bank balance on

$3$

$1$

$$December

$2$

$0$

$2$

$3$

$.$

$$

$$A

$.$

$$R

$6$

$5$

$0$

$0$

$$B

$.$

$$R

$5$

$0$

$6$

$0$

$$