Given: …………..Rich Social Club……….. Cash…………………….N100,000 Loan ……………………N30,000 Subscription in arrears……N5,000 Subscription in advance……N15,000 What is…

Accounts - Principles of Accounts JAMB 2003

Given:
…………..Rich Social Club………..
Cash…………………….N100,000
Loan ……………………N30,000
Subscription in arrears……N5,000
Subscription in advance……N15,000
What is the accumulation fund?

  • N60,000 checkmark
  • N80,000
  • N90,000
  • N110,000

The correct answer is: A

Explanation

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