JAMB Accounting 2014 Objective — Question 32
Question 32 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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Given an Income and Expenditure (Extract): Bal b/d 390; Sales of tickets 4,000; Donations 3,000; Subscriptions 6,500; Expenses on cleaning 300; New tool 510; Repairs 400; Electricity 350. What is the total income for the period?
- A. N13,890Correct
- B. N13,500
- C. N10,500
- D. N9,500
Explanation
Income is the debit side in income and expenditure account except the balance = N(4,000+3,000+6,500) = N13,500... total including balance b/d 390 = N13,890.
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