Receipts and payments account - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 16:

• JAMB 2006

MPOBA Club's annual donations from members amount to 112% of its internally generated revenue from the following.
Sales of drinks...................N212 500
Annual dues.......................N112 000
How much is the total receipt of the club?

A. N563 440
B. N687 940
C. N363 440
D. N524 500

Question 17:

• JAMB 2006

Determine the opening cash balance of the club?

A. N3 070
B. N2 220
C. N5 710
D. N4 320

Question 18:

• JAMB 2006

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.
What is the closing cash balance?

A. N35 000
B. N211 000
C. N5 000
D. N10 000

Question 19:

• JAMB 2006

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.
The subscriptions received would be

A. N200 000
B. N240 000
C. N300 000
D. N24 000

Question 20:

• JAMB 2007

Use the information below to answer questions.
Entrance fees.........................N1200
Subscriptions(including N850 arrears).N4310
Donations received....................N1500
Proceeds from sales...................N2300
Total payments........................N8200
Depreciation..........................N2100
Closing cash balance..................N1110
The club deposited 200% of the closing cash balance in he bank during the period.
Calculate the total figure for the receipt and payments account?

A. N11 410
B. N13 630
C. N9 310
D. N11 530