Use the information to answer this questionReceipts and Payment Account (Extract) ...
Question
Use the information to answer this question
Receipts and Payment Account (Extract)
N
Bal b/f 3650 Insurance 900
Subscription (99) 7500 Rate 11,700
(2000) 1000 Bal c/d 8,050
Fees 8500
20,650 20,650
The following information were given:
Rates owing Insurance prepaid Subscription in arrears | 1/199 3,600 50 700 | 31/12/99 2000 1000 600 |
The figure ₦1000 represent what in the balance sheet.
Options
A)
Assets
B)
Liability
C)
capital
D)
Subscription
The correct answer is B.
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