O-LevelAccountingAccounting procedures7707/12 · May/June 2014 · Q211 Mark

The members of a sports club pay an annual subscription of $60. At the beginning of the year subscriptions were accrued from 15 members. During the year subscriptions received amounted to $7500. This included subscriptions of $240 for the following year. What will be entered in the income and expenditure account for the year?

A$6360

B$6840

C$8160

D$8640

✓ Correct answer

A: $6360

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2014 Paper 1 Variant 2, question 21.

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