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

Jamb Accounts - Principles of Accounts Past Questions

Jamb Past Questions and Answers on Receipts and payments account

Question 41:

JAMB 2019

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 owingInsurance prepaidSubscription in arrears

1/1993,60050700

31/12/9920001000600

What is the opening cash balance

A. â‚¦20,600
B. ₦8,050
C. â‚¦3,650
D. â‚¦8,500

View Answer & Explanation

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