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Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 7 - 2021
Question 7
Read the information supplied and answer the questions which follow. Eden Hills Golf Club is a very popular course in the sunny South East of Ireland. It has a top-... show full transcript
Worked Solution & Example Answer:Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 7 - 2021
Step 1
Name one item Eden Hills Golf Club might include in their cashflow under each of the following sections: (i) Receipts section
Answer
One item that could be included in the Receipts section is "Membership/Subscriptions". This refers to the fees collected from members who pay to be part of the golf club, thus contributing to the club's income.
Step 2
Name one item Eden Hills Golf Club might include in their cashflow under each of the following sections: (ii) Payments Section.
Answer
An item suitable for the Payments section could be "Wages". This reflects the expenses related to paying staff for their services at the golf club, such as groundskeepers, bar staff, and administrative personnel.
Step 3
Step 4
Outline two possible reasons for your answer.
Answer
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In March, Eden Hills Golf Club received increased receipts of €25,000, likely due to a higher number of members paying their annual subscriptions as the weather improves, making it more appealing to play golf.
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Additionally, March likely had more players participating in golf compared to January, which traditionally sees low activity, resulting in higher revenue from green fees.