O-LevelAccountingAccounting procedures7707/11 · May/June 2021 · Q241 Mark

Every member of a sports club is required to pay an annual subscription of $50. The subscriptions account showed the following. Subscriptions account $ $ 2020 2020 Jan 1 Balance b/d 350 Dec 31 Bank 10950 Dec 31 Income and 10900 expenditure account Balance c/d 750 Balance c/d 450 11700 11700 2021 2021 Jan 1 Balance b/d 750 Jan 1 Balance b/d 450 What was the increase in the number of members in arrears between 1 January and 31 December 2020?

A2 members

B6 members

C8 members

D17 members

✓ Correct answer

C: 8 members

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2021 Paper 1 Variant 1, question 24.

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