Use the information to answer this question Rec... - JAMB Accounting 2019 Question
Use the information to answer this question
Receipts and Payment Account (Extract)
N
Bal b/f 3650 Insurance 900
subscription (99) 7500 Rate 11,700
(2000) 1000 Bal c/d 8,050
Fees 8500
20,650 20,650
The following information were given:
Rates owing Insurance prepaid Subscription in arrears |
1/199 3,600 50 700 |
31/12/99 2000 1000 600 |
Calculate the subscriptions in the Income and expenditure account
A
8400
B
7400
C
6400
D
7200
correct option: b
| Dr | Cr |
| Bal b/f 700 | cash (99) 7500 |
| J $ K 7400 | (2000) 1000 |
| Bal c/d 1000 | Bal c/d 600 |
| 9,100 | 9100 |
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