FAC OCTOBER/NOV EXAM SOLUTIONS FULL ONLINE EXAM ANSWERS

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1.
Thef
oll
owi
ngi
nfor
mat
ionper
tai
nsont
heOnl
ySuppor
ter
sCl
ub:


Bal
ancesat30Sept
ember2019


Member
shi
pfeesr
ecei
ved 63240
I
nar
rear
smember
shi
p(30Sept
ember2018) 7440
Member
shi
pfeesr
ecei
vedi
nadv
ance(
30Sept
ember2018) 10800
Adv
ert
isi
ngexpenses 8800
THf
und(
30Sept
ember2019) 96000


Addi
ti
onal
inf
ormat
ion


Thefol
l
owingtr
ansact
ionsmustbet
akeni
ntoaccountf
ort
hey
earended30
Sept
ember2019:
Dur
ingt
hecurrenty
ear25newmembersjoi
nedt
heclub.Theentr
ancefeeper
memberisR600andtheent
rancef
eesr
ecei
vedshoul
dbecapital
ised.
Uset heinf
ormat
ionprovi
dedabov et
ocalculat
etheent
rancef
eesthatshoul
dbe
recognisedasi
ncomei nthestat
ementofincomeandexpendi
tur
eofOnly
SupportersCl
ubfort
hey earended30September:
 Capit
ali
zat
ionmeanst
hat
,ent
rancef
eemustber
ecor
dedunder
Accumulat
edfund
 I
ftheentr
ancefeei
sCAPITALI
ZEDitmeanst
hati
twon’
tber
ecogni
sedi
n
t
hestatementofi
ncomeandexpendi
tur
e


A.Ent
rancef
eesamountr
ecogni
sedani
ncomei
sR11250
B.Ent
rancef
eesamountr
ecogni
sedasi
ncomei
sRNi
l
C.Ent
rancef
eesamountr
ecogni
sedasi
ncomei
sR15000
D.Ent
rancef
eesamountr
ecogni
sedasi
ncomei
sR7500
E.Ent
rancef
eesamountr
ecogni
sedasi
ncomei
sR3750




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