Use the following information to answer this question.
Club building 400,000
Subscription prepaid 3,000
Sport kits 150,000
Bar creditors 85,000
Subscription owing 32,000
What is the club’s accumulated fund?
-
A.
N699, 000 -
B.
N641, 000 -
C.
N402, 000 -
D.
N605, 000
Correct Answer: Option A
Explanation
Total asset less current liabilities
400000 + 205000 + 150,000 + 32000– 85000– 3000 = 699000