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:
Calculate the subscriptions in the Income and expenditure account
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 |
Calculate the subscriptions in the Income and expenditure account
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Correct Answer: Option B
Explanation:
Subscription account
Â
| Dr | Â Â Â Â Â Â Â Â Â Â Â Â Â Â Cr |
| Bal b/f       700 | cash  (99)    7500 |
| J $ KÂ Â Â Â Â Â Â Â 7400 | Â Â Â Â Â (2000)Â Â 1000 |
| Bal c/d      1000 | Bal c/d       600 |
| Â Â Â Â Â Â Â Â Â Â Â 9,100 | Â Â Â Â Â Â Â Â Â Â Â Â 9100 |
Â