JAMB Accounting 2014 Objective — Question 31

Question 31 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

Using the same information, what is the amount of subscription to be shown as liability in the balance sheet as at December 2009?

A. N14,200
B. N16,400Correct
C. N18,900
D. N20,500

Explanation

Subscription in advance is a liability and it is N16,400 from the information provided.

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