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JAMB - Accounts Principles Of Accounts (2019 - No. 19)

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
What is the opening cash balance
₦20,600
₦8,050
₦3,650
₦8,500

Explanation

The opening balance is represented as bal b/f. From the question above and the closing cash balance is represented as bal c/d. Both balance indicate cash in the balance sheet.

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