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Q3) Use the financial statement information on the attachment for the Gastonia Athletic Club. What was the cash received for dues in 20X8?

• A. $8,385
• B. $8,655
• C. $8,845
• D. $9,255
• E. None of the above.

Q4) Use the financial statement information on the attachment for the Gastonia Athletic Club. What was the interest revenue in 20X8?

• A. $660
• B. $1,260
• C. $1,720
• D. $2,160
• E. None of the above.

Q5) Use the financial statement information on the attachment for the Gastonia Athletic Club. What was the cash paid for supplies in 20X8?

A. $1,300

B. $2,340

C. $5,720

D. $5,940

E. None of the above.

Q12) Use the financial statement information on the attachment for the Gastonia Athletic Club. What were cash payments for general expenses in 20X8?

A. $560

• B. $570
• C. $720
• D. $930
• E. None of the above.

Use the following to answer questions 1-12 on the next two pages: The Gastonia Athletic Club presented the following at the end of 20X8: Comparative Balance Sheets Supplemental Information: All purchases of supplies were on account. Furniture and fixtures with an original cost of $2,000 and accumulated depreciation of $1,200 were sold for $1,400 in 20X8. Borrowings of $3,600 were made on notes payable in 20X8. Cash paid for interest was $1,260 in 20X8. There were no dividends or other distributions to members. The only change this year in Members' Equity is for the closing of the excess of accrual basis revenues over accrual basis expenses

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