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GBV Club is a non-profit organisation that was started by 120 members on 1 January 20.7. The objective of GBV Club is to address gender-based
GBV Club is a non-profit organisation that was started by 120 members on 1 January 20.7. The objective of GBV Club is to address gender-based violence that is faced by South African citizens. On 1 January 20.8 GBV Club opened a small shop to raise additional funding. The shop sells, printed T-shirts with messages addressing gender-based violence, No T-shirts were on hand on 1 January 20.8. In order to prepare the financial statements for the current financial period ended 31 December 20.8, the bookkeeper presented the following information regarding the finances of the club to members at a meeting held on 31 December 20.8. (1) GBV Club purchased 1 990 T-shirts during the current financial period at a cost price of R35 per T-shirt. (2) GBV Club donated 120 T-shirts to citizens during the year to raise more awareness about gender-based violence. (3) 330 T-shirts were on hand on 31 December 20.8 (considered as final inventory count for the current financial year). (4) T-shirts that have not been donated or not on hand, were all sold at a mark-up of 50% on cost price. Which of the following alternatives represents the correct amount for the gross profit/loss of the small shop selling T-shirts of GBV Club to be disclosed in the trading statement for the year ended 31 December 20.8? A. R15 400 B. R18 550 CR46 375 D. R22 750 E R26 950
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