Accounts - Principles of Accounts Past Questions and Answers

The value of the sales ledger control account is derived from the summation of

Subscription in arrears is treated in the balance sheet of a club as

Social Club Subscription (Extract)
31/12/2009 Subscription accrued #18,900
Subscription received in advance #16,400
Subscription received during
the year 2009 #38,570
Determine the amount of subscription for the year

Social Club Subscription (Extract)
31/12/2009 Subscription accrued #18,900
Subscription received in advance #16,400
Subscription received during
the year 2009 #38,570
What is the amount of subscription to be shown as liability in the balance sheet as at December 2009

Given:
Sales #180,000
Stock 1/1 # 25,000
Purchases #110,000
Sales returns # 1000
Purchases returns # 1,500
Gross profit # 58,000
Determine the value of stock as at 31st December