JAMB - Accounts Principles Of Accounts (2025 - No. 27)
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.
Total expenses debited to income and expenditure Account for 2018 was
#8,095,000
#4,095,000
#4,515,000
#1,610,000
Explanation
Total expenses for 2018 = Wages and salaries (₦2,400,000) + Rent and rates (₦600,000) + Anniversary dance expenses (₦955,000) + Travelling expenses (₦140,000) + Kitchen equipment (₦4,000,000) = ₦8,095,000.
Comments (0)
