Receipts and Payments Account ₦ ₦ Balance b/d ? Rent and rates 30 000 Subscriptions received ? General expenses 10 000 Gate-fee collections 50 000 Electrici...

Question 1 Report

Receipts and Payments Account
	₦		₦
Balance b/d	?	Rent and rates	30 000
Subscriptions received	?	General expenses	10 000
Gate-fee collections	50 000	Electricity	20 000
		Insurance	150 000
	?	Balance c/d	?

The subscriptions received represent 80% of total payments and the opening balance is 30% of gate-fee collections.

The subscriptions received would be

₦200 000

₦240 000

₦300 000

₦24 000

Everything you need to excel in JAMB, WAEC & NECO