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A Club collects annual subscriptions of K20 from each member. It is club policy to accrue subscriptions owing at the end of each year and also to adjust for subscriptions received in advance. It is also club policy not to accept part-payments of subscriptions from any member.
Problem i. Determine the amount of subscriptions to be charged to the Income and Expenditure account of the club for the year 2002.
Problem ii. How many members had prepaid their subscriptions at the end of 2001?
Problem iii. How many members fully paid their subscriptions during the year under review?
Problem iv. How many members have so far paid their subscriptions for 2003?
Problem v. How many members owed the club at the beginning of the financial year under review?
Problem vi. How many members paid what was fully charged to the Income and Expenditure account?
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