Use the following information to answer the giv... - WAEC Accounting 2005 Question
Use the following information to answer the given question
RECEIPTS AND PAYMENTS ACCOUNT:
\(\begin{array}{c|c} Dr & & & Cr \ \hline & D & & D \ \text{Balance b/f} & 1,000 & Salaries & 2,000 \ \text{Subscriptions} & 15,000 & \text{Rent} & 1,000 \ & & \text{Rates} & 1,500\ & & \text{Expenses} & 500 \ & & \text{Balance c/f} & 11,000\ & \overline{16,000} & & \overline{16,000} \ \text{Balance b/f} & \overline{11,000} & & \end{array}\)
\(\begin{array}{c|c} & \text{1st January,2004} & \text{31st December, 2004} \ & D & D \ \hline \text{Fixed Assets} & 50,000 & 50,000\ \text{Rent(accrued)} & 200 & 250 \ \text{Rates(prepaid)} & 300 & 400\ \text{Subscriptions in arrears} & 1,500 & 1,000\ \text{Subscriptions in advance} & 1,300 & 800 \end{array}\)
Rates charged to the income and expenditure Account for the year 2004 is
RECEIPTS AND PAYMENTS ACCOUNT:
\(\begin{array}{c|c} Dr & & & Cr \ \hline & D & & D \ \text{Balance b/f} & 1,000 & Salaries & 2,000 \ \text{Subscriptions} & 15,000 & \text{Rent} & 1,000 \ & & \text{Rates} & 1,500\ & & \text{Expenses} & 500 \ & & \text{Balance c/f} & 11,000\ & \overline{16,000} & & \overline{16,000} \ \text{Balance b/f} & \overline{11,000} & & \end{array}\)
\(\begin{array}{c|c} & \text{1st January,2004} & \text{31st December, 2004} \ & D & D \ \hline \text{Fixed Assets} & 50,000 & 50,000\ \text{Rent(accrued)} & 200 & 250 \ \text{Rates(prepaid)} & 300 & 400\ \text{Subscriptions in arrears} & 1,500 & 1,000\ \text{Subscriptions in advance} & 1,300 & 800 \end{array}\)
Rates charged to the income and expenditure Account for the year 2004 is
A
D2,200
B
D1,600
C
D1,500
D
D1,400
correct option: b
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