Accounting 0452 · IGCSE · Clubs and societies

Clubs and societies — practice question

The following figures relate to a cricket club. On $1$ August $2021$: bank balance $950$ 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 amount was held at the bank on $31$ July $2022$?

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

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