AIN3701 Assignment 3 (COMPLETE ANSWERS) 2025 - DUE 8 August 2025

AIN3701 Assignment 3 (COMPLETE ANSWERS) 2025 - DUE 8 August 2025 AIN3701 Assignment 3 Memo | Due 8 August 2025 AIN3701 Assignment 3 Memo | Due 8 August 2025. All questions fully answered. FitNation Gym. Company background In the heart of Centurion, Gauteng, nestled between buzzing cafes and high-performance office blocks, stands FitNation Gym — a modern health sanctuary for South Africans seeking transformation. FitNation has rapidly evolved from a small startup into one of the country’s most respected gym franchises, with branches in Pretoria, Johannesburg, and Polokwane. More than just a workout space, FitNation is a community-driven brand that believes in data-powered health, structured fitness, and holistic wellbeing. REQUIRED: Marks (a) Open a document in Word. Save this document as yourstudentnumber_S, for example _VanS. Number the following question as: Question 1 (a) in your Word document. Based on the dialogue provided in the assignment, create a fishbone (Ishikawa) diagram to visually map the likely causes of the recent membership decline at FitNation Gym. Hints: - Identify and include at least four root cause categories. - Under each category, provide a minimum of two contributing factors based on the meeting discussion. REQUIRED: Marks (a) Continue to work in the same Word document as mentioned in question 1(a) Number the following question as: Question 2 (a) in your Word document. In line with IFRS 15 - Revenue from Contract with Customers, identify all distinct performance obligations embedded in the 24-month contract with members. 2 (b) Number the following question as: Question 2 (b) in your Word document. Assume a customer sign a 24-month contract on 1 January 2025. Provide the journal entry at inception of the contract (1 January 2025). 7 (c) Number the following question as: Question 2 (c) in your Word document. Assume that no incentive has been met on 31 January 2025. Provide the journal entry for this transaction at month-end, including the receipt of the monthly subscription. 5 (d) Number the following question as: Question 2 (d) in your Word document. Provide the journal entries to account for the following scenario: A customer qualifies the following incentive: • T-shirt Include both revenue recognition and the inventory movement for each item. 4 (e) Number the following question as: Question 2 (e) in your Word document. 2 AIN3701 Assignment 3 2025 12 Assume the 8-week period has passed and the member has not qualified for the gym bag. Prepare the journal entry to reflect this. 20 (a) Please download the Excel file called FitNation_FitStarter_D. Perform this question in this workbook (create a sheet called “A”). When done, save the workbook as yourstudentnumber_Surname_Q (Excel workbook), for example: _VanStaden_Q. Using the dataset provided and the CFO’s instructions in the e-mail, prepare a Revenue Summary in the exact format as instructed. No pivot tables or VBA allowed. 10 (b) Perform this question in the same workbook (create a sheet called “B”) mentioned in question 3 (a). When done, save the workbook as yourstudentnumber_Surname_Q (Excel workbook), for example: _VanStaden_Q. Using the dataset and audit information provided in the CFO’s e-mail, prepare an Inventory Summary in