PRE-ADJUSTMENT TRIAL BALANCE AS AT 31 MARCH 20.8
Accumulated fund………................ ........................................................................... | R |
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 |
56 040 |
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
The Correct Answer is (b) R33,500
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