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Youngsters Club has a membership of 115 persons. Each member pays an annual subs...


Question

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

Options

A) ₦400(asset)

B) ₦150(asset)

C) ₦150(liability)

D) 400(liability)

The correct answer is A.


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