Lunas

Art Club provides you with the following information for the 20.2 financial

year. Lunas Art Club had 12 members at the end of the 20.2 financial year. Membership

fees amounts to R245 per month. On 1 January 20.2,

five new members joined the club and paid an entrance fee of R100 each. The

entrance fees received was capitalised to the accumulated fund account. Membership fees received in advance on 31 December 20.1 was R17 640. The financial year-end of

Lunas Art Club is 31 December.

The

amount for membership fees that will disclosed in the income and expenditure

statement on 31 December 20.2 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)