Use the following information to answer the given questio...
Use the following information to answer the given question
\(\begin{array}{c|c} & Le \\ \hline \text{Cash in hand} & 15,000\\ \text{Balances as at 1st January, 2005:} & \\ \text{Subscriptions in arrears} & 6,000\\ \text{Subscription in advance} & 2,500\\ \text{Subscriptions received} & 18,000\\ \text{Expense for the year} & 6,500\\ \text{Balances as at 31st December, 2005:} & \\ \text{Subscriptions in arrears} & 3,000 \\ \text{Subscriptions in advance} & 1,500\end{array}\)
The excess of income over expenditure for the year was
Le 16,500
Le 11,500
Le 9,500
Le 6,500
Correct answer is C
No explanation has been provided for this answer.
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