Use the information below to answer questions. Entrance fees.........................N1200 Subscriptions(including N850 arrears).N4310 Donations received....................N1500 Proceeds...
FINANCIAL
JAMB 2007
Use the information below to answer questions.
Entrance fees.........................N1200
Subscriptions(including N850 arrears).N4310
Donations received....................N1500
Proceeds from sales...................N2300
Total payments........................N8200
Depreciation..........................N2100
Closing cash balance..................N1110
The club deposited 200% of the closing cash balance in he bank during the period.
Determine the opening cash balance of the
- A. N3070
- B. N2220
- C. N5710
- D. N4320
Correct Answer: B. N2220
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