Accounting 0452 · IGCSE · Clubs and societies

Clubs and societies — practice question

A social club had these assets and liabilities. - Non-current assets: $\$6\,550$ - Cafe expenses owing: $\$25$ - Subscriptions owing by members: $\$50$ - Balance at bank: $\$500$ debit - Owing to credit suppliers: $\$300$ - Cafe inventory: $\$500$ What was the accumulated fund?

  • A$\$6\,275$
  • B$\$6\,325$
  • C$\$7\,175$
  • D$\$7\,275$

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