Exam (elaborations)
FAC1502 Assignment 3 2024
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FAC1502 Assignment 3 2024
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UNISA 2024 FAC1502-24-S1 Welcome Message Assessment 3QUIZ
Assessment 3
Opened: Monday, 29 April 2024, 8:00 AM
Closes: Monday, 6 May 2024, 11:00 PM
Summary of your previous attempts
Marks /
State
Finished 95 67 2 00 Congratulations, you pass
Submitted Thursday, the assessment with a
30 April 2024, distinction.
93
Your nal grade for this quiz is
Overall feedback
Congratulations, you pass the assessment with a distinction.
No more attempts are allowed
Back to the course
, GBV Club is a non- profit organisation that was started by 150 members on 1 January 20.7. The objective of GBV Club is to address gender-
based violence that is faced by South African citizens. The constitution of GBV Club indicated the following:
(a) Membership fees amount to R1 600 per member per annum.
(b) Entrance fees to join the club amount to R180 per member and it should be capitalised.
(c) Membership fees needs to increase by 10% at the beginning of every year, starting from 1 January 20.8.
(d) GBV Club does not provide members with refunds if they leave the club.
In order to prepare the financial statements for the current financial period ended 31 December 20.8, the bookkeeper presented the
following information regarding the finances of the club to members at a meeting held on 31 December 20.8:
Membership fees and entrance fees:
(1) 80 new members joined the club and each member paid their entrance fees of R180.
(2) Membership fees received of R306 480 for the current financial year ended 31 December 20.9
The amount for entrance fees paid by the new members in the current financial period that will form part of the accumulated fund
will be:
Instructions:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the nearest Rand (eg: 50.56 is 51)
3. Only show the amount, do not show the R (eg: 12141.72)
Answer: 14400
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