WAEC Accounting Past Questions & Answers - Page 289

Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions shown in the Balance sheet as at 31st December 2005 is

Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions recorded in the income ans expenditure account for the year ended 31st December 2005 is

A cash payment of ₦85 to Regina was entered in the books as ₦58. The entries to correct the error are: debit

 

Youngsters Club has a membership of 115 persons. Each member pays an annual subscription of ₦50. During the year ended 31st December 2005, 8 members had not paid their subscriptions. using the information, the subscriptions recorded in the income ans expenditure account for the year ended 31st December 2005 is 

The assumption that a business has perpetual existence is recognized by