JAMB - Accounts Principles Of Accounts (2025 - No. 25)
Receipts and Payments Account of Abalure Youth Club for the year ended 31st December 2018
Subscriptions for 2017 and 2019 received during the year were #180,000 and #150,000, respectively.
The surplus for the year 2018 was
#5,235,000
#7,865,000
#5,845,000
#7,535,000
Explanation
Surplus = 11,930,000 (i.e the addition of all income in the receipts and payment account) - 8,095,000 (from total expenses) = #5,235,000
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