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Please urgently assist The following information was taken from the accounting records of Sea View Golf Club: SEA VIEW GOLF CLUB STATEMENT OF FINANCIAL POSITION
Please urgently assist
The following information was taken from the accounting records of Sea View Golf Club:
SEA VIEW GOLF CLUB
STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER
R
ASSETS
Noncurrent assets
Property at cost
Furniture
Cost price
Less: Accumulated depreciation
Equipment
Cost price
Less: Accumulated depreciation
Current assets
Inventory
Bank
TOTAL ASSETS
FUNDS AND LIABILITIES
Accumulated funds
Opening balance
Surplus for the year
Current liabilities
Creditors
TOTAL FUNDS AND LIABILITIES
Additional information to be taking into account:
The following transactions took place during the year ending December :
R
Buildings purchased on cash
Entrance fees received
Sundry expenses paid
Other fees received
Insurance paid
Maintenance of golf course paid
Salaries paid
Stationery purchased
Membership fees received
Payments to creditors
Accrued membership fees on December amounted to R
Equipment must be depreciated at per annum on the cost price.
Furniture must be depreciated at per annum on the reducing balance method.
Membership fees received during the financial year, include an amount of R
related to the financial year.
Membership fees of R are still outstanding on December
Insurance premiums amount to R per month.
Entrance fees must be capitalised.
Where applicable, amounts must be rounded off to the nearest R
Complete the membership fees account in the general ledger for the year ending December by filling in the missing amounts in the membership fees account provided to you below.
PLEASE USE ONLY NUMBERS AND THE MINUS SIGN WHERE NEEDED IN YOUR ANSWER, EG OR NO SPACES AND NO BRACKETS, OTHERWISE YOUR ANSWER WILL BE MARKED AS INCORRECT!
Membership fees
Accrued membership fees
A Blank Fill in the blank, read surrounding text.
Bank
D Blank Fill in the blank, read surrounding text.
Income received in advance
B Blank Fill in the blank, read surrounding text.
Accrued membership fees
E Blank Fill in the blank, read surrounding text.
Income and expenses
C Blank Fill in the blank, read surrounding text.
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