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Use the following information to answer questions 11 and 12. Receipt and Payments: 31st December, 2016 ...

Accounts - Principles of Accounts
JAMB 2025

Use the following information to answer questions 11 and 12.

Receipt and Payments: 31st December, 2016 

The total income received for the year is

  • A. #1,980
  • B. #1,690
  • C. #2,640
  • D. #2,180
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Correct Answer: Option C
Explanation

Total income for the year = Cash at bank (₦460) + Subscriptions (₦520) + Donations (₦500) + Sales of tickets (₦490) + Entrance fees (₦670)
= ₦2,640.

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