Use the following information to answer the given questio...
Use the following information to answer the given question
RECEIPTS AND PAYMENTS ACCOUNT:
DrCrDDBalance b/f1,000Salaries2,000Subscriptions15,000Rent1,000Rates1,500Expenses500Balance c/f11,000¯16,000¯16,000Balance b/f¯11,000
1st January,200431st December, 2004DDFixed Assets50,00050,000Rent(accrued)200250Rates(prepaid)300400Subscriptions in arrears1,5001,000Subscriptions in advance1,300800
Accumulated fund as at 1st January 2004 is
D54,100
D52,800
D52,600
D51,300
Correct answer is D
No explanation has been provided for this answer.
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