Highlights
The following transactions was taken from the books of Universal Rugby Club
1. Show all the accounts in the General Ledger for the year 1 January 2018 to 31 December 2019 that have adjustments (39)
2. Also open the T Shirts account (10)
3. Show the Income and Expenditure Statement for the year ended 31 December 2019
4. Do you think it is a good idea for the club to increase its membership fees by R10 for the year 2020. Give a reason for your answer (2)
5. In your opinion, has the committee made a wise decision by investing money in a fixed deposit at 10% interest p.a. while paying interest of 18% p.a. on the mortgage bond. Explain briefly. (2)
6. What is the gross profit made on cost price of refreshments
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