on 1st Jan 2019 a club had received prepaid subscription of GHS 560. during the year ended 31 december 2019, the club received subscription GHS8480. on 31 december 2019 subscription to the club amounted to GHS400. which amount should be shown for subscription in the income and expenditure account for 2019.
on 1st Jan 2019 a club had received prepaid subscription of GHS 560. during the year ended 31 december 2019, the club received subscription GHS8480. on 31 december 2019 subscription to the club amounted to GHS400. which amount should be shown for subscription in the income and expenditure account for 2019.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. on 1st Jan 2019 a club had received prepaid subscription of GHS 560. during the year ended 31 december 2019, the club received subscription GHS8480. on 31 december 2019 subscription to the club amounted to GHS400. which amount should be shown for subscription in the income and expenditure account for 2019.
2. A company has sales of GHS1000. the company sells three types of goods. 60% of sales are of type A which is sold at a markup of 20%. Type B goods are sold at a margin of 30%. The cost of type B sold in the year was GHS154 and total gross profit for the year was GHS184. What was the cost of sales of type A?
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