O-LevelAccountingPreparation of financial statements7707/11 · May/June 2010 · Q221 Mark

A sports club had the following assets and liabilities. $ trade payables (creditors) for refreshments 750 bank 1870 debit subscriptions due from members 60 subscriptions prepaid by members 40 equipment 9500 loan to a member 500 How much was the accumulated fund?

A$7400

B$10 140

C$11 100

D$11 140

✓ Correct answer

D: $11 140

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2010 Paper 1 Variant 1, question 22.

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