Day: June 7, 2021

A club charges each of its 100 members an annual subscription of £12.

At the end of a year four members had not paid their annual subscription. 

What will be the entries in the financial statements for subscriptions?

Select ONE answer:

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct ==> 100 * £12 = £1,200 / 4 * £12 = £48 Asset
4. Not correct

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