JAMB Accounts Principles of Accounts 2016 Paper

Question : 15

Total: 47

Solution:

Concept:

Total income includes only revenue receipts for the period, not opening balances or expenses.

Explanation:

Income items are: Sales of tickets

4,000

, Donations

3,000

, and Subscription

6,500

4,000 + 3,000 + 6,500 = 13,500

Bal b/d is an opening balance, not income.

Answer:

#13,500

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