Determine the opening cash balance of the club?

By: |Published on: Dec 6|Categories: Accounting JAMB| 0 comments

MPOBA Club’s annual donations from members amount to 112% of its internally generated revenue from the following.

Sales of drinks……………….N212 500
Annual dues…………………..N112 000

A. N3 070
B. N2 220
C. N5 710
D. N4 320

Correct Answer:

Option B – N2 220

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