Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Steel Circle Club is a bowling club that has been in existence since 1998. The club has 230 members around South Africa. A yearly bowling tournament is generally held at the end of June every year. The club relies on membership fees and donations to finance its activities every year. You have been recently appointed the Senior Bookkeeper of the Club and have been provided with the following financial information: Membership fees is R650 per member yearly. All members have paid in full in 2018. The club received a private donation from an International Bowling Institute of R150 000. The club owns a property of which is rented to tents. Rental amounted to R77 000 for the year. Each event held by the club, beverages were offered on sale. Beverage sales made amounted to R48 750. Wages and other expense that relate to the sale of beverages are R19 000 and R6 800 respectively.
Cost Items of the club:
Details 2018 (R)
Sundry expense 46 500
Maintences of bowling racks 36 200
Insurance 27 750
Finance cost (see notes below) ?
Depreciation on equipment (see notes below) ?
Salaries and wages 92 700 Advertising 27 100
Administration costs (see notes below) ?
Telephone costs 8 400
Notes:
Required:
Problem 1: Prepare the Income and Expenditure Statement for Steel Circle Club the year-ended 31 July 2019.
Problem - Compute the preparer penalty the IRS could assess on Gerry in each of the following independent cases
An investor purchased mutual fund units at an NAV of Rs.11. After 450 days, she redeemed it at Rs.13.50. What is her compounded rate of return
the furnace operation is part of the total process for each of these three products. thus for example 5 of the 15 hours
karling furniture recently raised the selling price of its colonial desk from 495 to 529. as a consequence unit sales
Allocate the net income to partners based on the above partnership terms and prepare allocation journal entries
The subsidiary still possesses 40 percent of this inventory at the current year end. Top had established the transfer price based on its normal markup. What are the consolidated sales and cost of goods sold?
Briefly describe each of the following approaches to real estate market value: Cost approach.
Why is essential that the planning functions of controllership can help an organization effectively and efficiently achieve a goal?
Compute the margin of safety ratio for current operations and after Mary's changes are introduced (Round to nearest full percent)
dobson manufacturing company uses a job order cost system with manufacturing overhead applied to productson the basis
Membership expenses are not related to the business and should be shown as a dividend to shareholder. Record the correcting entry
Big Bad Company's stock was trading on the open market for $11 per share at the end of the year. Use this information to determine the book value of investment
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd