Accounting 0452 · IGCSE · Clubs and societies

Clubs and societies — practice question

A cricket club gave the information below. On 1 August 2021: balance at bank $950 For the year ended 31 July 2022: net receipts from competition $1050; subscriptions received $2500; general expenses paid $1020; insurance paid $500; rent paid $1800 On 31 July 2022: subscriptions owing by members $120; insurance prepaid $20; depreciation of equipment $260 What was the bank balance on 31 July 2022?

  • A$920
  • B$1180
  • C$1200
  • D$1300

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