Exam (elaborations)
FAC1502 ASSIGNMENT 4- DUE 29 OCTOBER 2024
- Institution
- University Of South Africa (Unisa)
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10/24/24, 5:46 PM Assessment 4 (page 1 of 2)UNISA 2024 FAC1502-24-S2 Welcome Message Assessment 4
QUIZ
Time left 1:33:24
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, 10/24/24, 5:46 PM Assessment 4 (page 1 of 2)
Question 1
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You are given the following information for United Tennis Club for the year ended 31 December 20.6:
a) Membership fees received for the year is R44 920.
b) Membership fees was R275 in 20.5, R300 in 20.6 and will be R330 in 20.7.
c) On 1 January 20.6, the membership fees of six members for 20.5 were still due.
d) On 31 December 20.5, five members prepaid their membership fees for 20.6.
e) On 31 December 20.6 three members paid their membership fees for 20.7.
f) Membership fees received during 20.6 included the membership fees of three members who did not pay in 20.5. The other
three members' membership fees must be written off as irrecoverable.
g) On 31 December 20.6, four member’s membership fees for 20.6 were still outstanding.
Required:
Prepare the membership fees account in the general ledger as at 31 December 20.6.
Instructions:
1. Do not type the amount with any spaces as separators for thousands (eg: 12141)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the "R" for the Rand sign (eg: 12141)
4. Keep the transactions strictly according to date sequence
5. When no amount needs to be entered in a column, then indicate this by entering "0" in the column.
6. If an option has been provided and it is not applicable to the specific question, please put N/A in the account column.
GENERAL LEDGER
UNITED TENNIS CLUB
Dr Membership fees
Cr
20.6 20.6
Accrued income 1650 Income received in advance 1500
Jan 1 Jan 1
Dec 31 Dec 31
Income received in advance 990 Bank 44920
Income and expenditure 45805 Credit losses 825
Accrued income 1200
48 445 48 445
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