The project forms part of the CASS for the year and will be completed during term 2 of the year. You may complete the project in groups of no more than two.
You are the bookkeeper/treasurer of the Western Cape Soccer Club. The club has 260 members that pay a range of membership fees from juniors who pay R100 per annum to adults who pay R250 per annum. The club also charges an entrance fee for all new members of R200 for juniors and R400 for adults.
The club runs a tuckshop and a bar / coffee shop where they sell a range of refreshments. Particularly on match days these facilities are very popular. Lastly the club also has a shop where the members can buy club jerseys and socks.
At the …show more content…
v. Lastly but definitely not least is repairs and upkeep to buildings and fields. The manner in which a club maintains there facilities can be directly related to the number of people at the club. The more you spend on improving your facilities the more people would want to use them, meaning more membership fees in the progress. This is normally the biggest expense that occurs to any club trying to imorove their facilities.
3. What ledger accounts are you using in your system in order to record these incomes and expenses, focussing on those that are different from businesses?
As a club is not a business but an organization it should be assumed that the ledger accounts of each would differ. Some of the ledger accounts associated with income and expenditure specific to a club are as follows.
i. Membership fees ledger account. This records the amount of money taken in by the Western Cape Soccer Club in membership fees. Not only recording the fees for the present year but also taking into account accrued fees from the previous year and the present year, and fees paid in advance from last and present year. Could also be used to record any offsets against membership fees such as refreshments, honorarium and fees written off on the credit side and fees paid back on the debit. ii. Affiliation fees expense account to record the expenses paid to other clubs or