Use the information to answer the given question.

RECEIPTS AND PAYMENTS ACCOUNT: $\begin{array}{c|c} & & N & & N \\ \hline \text{Balance - 1st January} & 2002 & 200 & \text{Bar supplies}& 2,850\\ \text{subscriptions received:} & & & \text{wages} & 350\\ & 2002 & 3,600 & \text{General expenses} & 400 \\ & 2003 & 250 & \text{Printing expenses} & 120 \\ \text{Receipts from Bar} & & 4,500 & \text{Equipment} & 200 \\ \text{receipts from dance} & & 500 & \text{Repairs} & 200 \\ \text{Sundry receipts} & & 400 & \text{Balance - 31st December} & 4,880 \\ & & \overline{9,450} & & \end{array}$

ADDITIONAL INFORMATION:

$\begin{array}{c|c} & \text{1/01/02} & \text{31/12/12} \\ & N & N \\ \hline \text{Equipment} & 4,500 & 5,150\\ \text{Stock - Bar} & 1,200 & 3,200 \\ \text{Bar supplies} & 2,400 & 5,600\end{array}$

Amount owing to Bar creditors is

Similar Questions

Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. D...

Accrual accounting differs from cash accounting because it recognizes? ...

Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNT \(\begi...

When discount is allowed, the accounting entry is debit Discount allowed and credit ...

Where partnership is converted into a limited liability company, current account balances of partner...

Use the following information to answer the given question, Aba and Baba are partners who agreed to ...

Total production cost- #360,000 Factory overhead cost- #56,000 Selling price per unit- #120 Produ...

A trial balance is a proof of ...

Stock 1/1/2002..........................N40,000 Goods received from head office.................N80...

In the preparation of account, the owners of the business and the business concerned are treated as ...