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JAMB - Accounts Principles Of Accounts (2019 - No. 17)

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

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

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
8400
7400
6400
7200

Explanation

Subscription account
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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