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The following information pertains to All STARS Tennis Club. ALL STARS TENNIS CLUB Extract from the list of balances as at 31 December 2019: Accumulated
The following information pertains to All STARS Tennis Club. ALL STARS TENNIS CLUB Extract from the list of balances as at 31 December 2019: Accumulated fund (1 January 2019) Fixed deposit.. Entrance fees. Donations received Interest on fixed deposit... Membership fees. R 16 320 80 000 3 000 38 600 4 000 37 440 Additional information Entrance fees must be capitalized. If it is assumed that the membership fees that needs to be transferred to the income and expenditure account amounted to R37 440 and that the profit on refreshments amounted to R20 000. What will the total income amount in the income and expenditure statement for the year ended 31 December 2019 be? A. R61 440 B. R100 040 . C. R96 040 D. R80 040 E. R62 600
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