JAMB - Accounts Principles Of Accounts (2025 - No. 11)
Use the following information to answer questions 11 and 12.
Receipt and Payments: 31st December, 2016
The total income received for the year is
#1,980
#1,690
#2,640
#2,180
Explanation
Total income for the year = Cash at bank (₦460) + Subscriptions (₦520) + Donations (₦500) + Sales of tickets (₦490) + Entrance fees (₦670)
= ₦2,640.
= ₦2,640.
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