Club Limited

“Income: Gross Receipts: 1,853. Returns and Allowances: 0. Less Cost of Goods Sold: 276. Gross Profit: 1,577. Cost of Goods Sold: Inventory at Beginning of Year: 8,920. Merchandise Purchased: 13,483. Cost of Labor: 0. Materials and Supplies: 0. Other Costs: -618. Inventory at End of Year: 21,509. Cost of Goods Sold: 276.”

“Description: Inventory Removed for Club Use. Amount: -618.”

“Description: Miscellaneous Income. Amount: 12.”

“Description: Annual Meeting Expense. Amount: 4,816. Description: Bank Charges. Amount: 55. Description: Duck Stamps. Amount: 1,625. Description: Insurance. Amount: 7,972. Description: Merchandise. Amount: 618. Description: Office Expenses. Amount: 2,613. Description: Postage. Amount: 1,496. Description: Supplies. Amount: 618. Description: Website. Amount: 10,156. Description: Telephone/Fax. Amount: 1,771. Total to Form 990-EZ, line 16: 31,740.”

“The members of Club Limited were required to pay a special assessment during the tax year. These dues are a contribution to the organization for the support of the organization's activities. Each member paid $1,000 for a total of $53,000. This amount is reported in Part I, Line 1.”

“Description: Merchandise Inventory. Beg. of Year Amount: 8,919. End of Year Amount: 21,509. Description: Accounts Receivable. Beg. of Year Amount: 51,461. End of Year Amount: 22,526.”

“Description: Trip Deposits. Beg. of Year Amount: 50,993. End of Year Amount: 19,327. Description: Prepaid Dues. Beg. of Year Amount: 37,500. End of Year Amount: 43,589.”