The bank account kept by a sports club shows that subscriptions totalling $2695 were received during the financial year. This figure includes arrears of subscriptions owing from last year of $145. It also includes an outstanding lodgement of subscriptions of $195. What amount for subscriptions is included in the receipts and payments account of the sports club?

The Sandhill Golf Club has 150 members who each pay an annual subscription of $40. On 1 January 2010 subscriptions un…

Mohan is a trader. On 24 April 2011 he had a bank overdraft of $150. The following transactions took place during th…

Chan returns goods to Yeung. How is this recorded in the books of Yeung?

A taxi firm received $500 from passengers. The firm sold a vehicle for $5000. How should these receipts be treated?

Repairs to a motor vehicle were debited in error to the motor vehicles account. How does this affect the profit for t…

The difference on a trial balance was entered in a suspense account. It was later found that the purchases returns jo…