In the balance sheet of not-for-profit making organizatio...
In the balance sheet of not-for-profit making organizations, subscription in arrears is shown under
Long-term liabilites
Current assets
Current liabilities
Fixed assets
Correct answer is B
Subscription in arrears is the sum of money due from members for a particular year but which has not been paid for that year. It is treated as current asset in the balance sheet.
Given: Furniture and fittings..................N20,000 Equipment...............................N...
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNT \(\begin...
\(\begin{array}{c|c} & ₦ \\ \hline \text{Balance as per cash book} & 8,000 Cr\\ \text{Unpr...
\(\begin{array} {c|c} & D \\ \hline \text{Cash in hand}& 1,440\\ \text{Cash at bank} & 2...
Given: Subscriptions received.........N200,000 Subscriptions owed.............N10,000 Subscript...
Which of the following is found in the general ledger? ...