O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2017 · Q221 Mark

A club had an accumulated fund at the start of the year of $18000 and at the end of the year of $16200. Total running costs for the year were $9550. New equipment costing $1100 was bought during the year. The only income came from subscriptions. How much were subscriptions for the year?

A$7750

B$8850

C$11350

D$12450

✓ Correct answer

A: $7750

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2017 Paper 1 Variant 2, question 22.

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A club had an accumulated fund at the start of the year of $18000 and at the end of the year of $16200. Total running costs for the year were $9550. New equipment costing $1100 was bought during the year. The only income came from subscriptions. How much were subscriptions for the year?

✓ Correct answer

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