Question on: JAMB Accounting - 2015
Use the following information to answer this question.
Club building 400,000
Subscription prepaid 3,000
Sport kits 150,000
Bar creditors 85,000
Subscription owing 32,000
What is the club’s total liabilities
Club building 400,000
Subscription prepaid 3,000
Sport kits 150,000
Bar creditors 85,000
Subscription owing 32,000
What is the club’s total liabilities
A
N11, 700
B
N26, 700
C
N88, 000
D
N85, 000
Ask EduPadi AI for a detailed answer
Correct Option: C
i.e. creditors plus subscription in advance 85000 + 3000 = 88,000
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