Use the information provided below, for Canoeing Club for the financial year ended 31 March 20.8, to answer questions 14 and 15:

PRE-ADJUSTMENT TRIAL BALANCE AS AT 31 MARCH 20.8

Accumulated fund......................... ...........................................................................12 540

Membership fees received.............. ........................................................................31 000

Membership fees in arrears - 1 April 20.7 ................................................................4 000

Membership fees prepaid - 1 April 20.7..............................................................5 000

Donations received....................................................................................3 500

Additional information

(a) Entrance fee and donations received must be capitalized.

(b) Membership fees:

In arrears at 31 March 20.8 ..................................................................... R2 500

Received in advance at 31 March 20.8....................................................... R2 000

(c) Five new members joined the club during the year. Each new member paid entrance fee of R200 and this entrance fee was included in membership fees received.

(d) Half of the membership fees that were in arrears on 1 April 20.7, must be written off as irrecoverable.

(e) Canoeing Club has a deficit of R6 300 for the year ended 31 March 20.8.

14. Amount to be disclosed as membership fees in the income and expenditure statement for the year ended 31 March 20.8?

(1) R37 500

(2) R33 500

(3) R34 500

(4) R28 500

(5) R31 500

15. The amount to be disclosed for accumulated fund in the statement of financial position for the year ended 31 March 20.8 will be ...

(1) R 9 740

(2) R 6 240

(3) R10 740

(4) R18 840

(5) R17 040