Use the following information to answer this question. Club building 400,000 Subscription prepaid 3,000 Sport...

JAMB 2015

Use the following information to answer this question.

Club building 400,000

Subscription prepaid 3,000

Sport kits 150,000

Bar creditors 85,000

Subscription owing 32,000

What is the club’s total liabilities

A. N11, 700
B. N26, 700
C. N88, 000
D. N85, 000

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Correct Answer: Option C

Explanation

i.e. creditors plus subscription in advance 85000 + 3000 = 88,000

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Use the following information to answer this question. Club building 400,000 Subscription prepaid 3,000 Sport...

Correct Answer: Option C

Explanation

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