Use the following information to answer the giv... - WAEC Accounting 2006 Question
Use the following information to answer the given question
\(\begin{array}{c|c} & Le \ \hline \text{Cash in hand} & 15,000\ \text{Balances as at 1st January, 2005:} & \ \text{Subscriptions in arrears} & 6,000\ \text{Subscription in advance} & 2,500\ \text{Subscriptions received} & 18,000\ \text{Expense for the year} & 6,500\ \text{Balances as at 31st December, 2005:} & \ \text{Subscriptions in arrears} & 3,000 \ \text{Subscriptions in advance} & 1,500\end{array}\)
The excess of income over expenditure for the year was
\(\begin{array}{c|c} & Le \ \hline \text{Cash in hand} & 15,000\ \text{Balances as at 1st January, 2005:} & \ \text{Subscriptions in arrears} & 6,000\ \text{Subscription in advance} & 2,500\ \text{Subscriptions received} & 18,000\ \text{Expense for the year} & 6,500\ \text{Balances as at 31st December, 2005:} & \ \text{Subscriptions in arrears} & 3,000 \ \text{Subscriptions in advance} & 1,500\end{array}\)
The excess of income over expenditure for the year was
A
Le 16,500
B
Le 11,500
C
Le 9,500
D
Le 6,500
correct option: c
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