Given:Club trading profit ₦12,000Members'' subscription ₦15,000Profit on sale ...
Question
Given:
Club trading profit ₦12,000
Members'' subscription ₦15,000
Profit on sale of fixed assets ₦2,500
Loss on sale of investments ₦1,000
Wages ₦16,500
Other expenses ₦10,000
Determine the club's excess of income over expenditure?
Options
A)
₦500
B)
₦1,500
C)
₦2,000
D)
₦2,500
The correct answer is C.
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