A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and is still owing N16,000. The balance of the payments account is?

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A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and ...

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Accounts - Principles of Accounts Classroom
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Jamb 2001
Accounts Of Not-For-Profit-Making Organizations
Receipts And Payments Account
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A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and is still owing N16,000.
The balance of the payments account is?

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A N24,000
B N22,000
C N14,000
D 8,000
E NO OPTION INDICATED

Correct Answer: Option E

Explanation:

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A club received rent N10,000 and donation N30,000. It paid N6,000 for entertainment and ...

Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

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