Loading....

JAMB UTME - Principles of Accounts - 2001

Question 1 Report

Given:Club trading profit ₦12,000

Members'' subscription ₦15,000

Profit on sale of fixed assets ₦2,500

Loss on sale of investments ₦1,000

Wages ₦16,500

Other expenses ₦10,000

Determine the club''s excess of income over expenditure?