JAMB Accounting 2020 Objective — Question 18

Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

18. Subscription to be posted to the income and expenditure account is (using Q17 data)

A. A. N6,050
B. B. N8,000
C. C. N4,150Correct
D. D. N8,250

Explanation

The subscription charged into the income and expenditure account is the subscription due for the year. Cash received for subscription due for the year is N4000 and subscription due for the year not paid is N150. Total = 4000+150 = N4,150.

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