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  5. Given: Club trading...

Given: Club trading profit N12,000 Members'' subscription N15,000 Profit on sale of fixed assets N2,500...

Accounts - Principles of Accounts
JAMB 2001
Given:

Club trading profit N12,000



Members'' subscription N15,000



Profit on sale of fixed assets N2,500



Loss on sale of investments N1,000



Wages N16,500



Other expenses N10,000



Determine the club''s excess of income over expenditure?
  • A. N500
  • B. N1,500
  • C. N2,000
  • D. N2,500
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Correct Answer: Option C
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts