O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2022 · Q261 Mark

A cricket club provided the following information. at 1 August 2021 balance at bank $950 during the year ended 31 July 2022 net receipts from competition $1050 subscriptions received $2500 general expenses paid $1020 insurance paid $500 rent paid $1800 at 31 July 2022 subscriptions owing by members $120 insurance prepaid $20 depreciation of equipment $260 What was the balance at bank on 31 July 2022?

A$920

B$1180

C$1200

D$1300

✓ Correct answer

B: $1180

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 3, question 26.

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