WAEC Financial Accounting 2005 Question 29

RECEIPTS AND PAYMENTS ACCOUNT
Dr: Balance b/f D1,000; Subscriptions D15,000; total D16,000
Cr: Salaries D2,000; Rent D1,000; Rates D1,500; Expenses D500; Balance c/f D11,000; total D16,000
(1st January, 2004; 31st December, 2004):
Fixed Assets D50,000; D50,000
Rent (accrued) D200; D250
Rates (prepaid) D300; D400
Subscriptions in arrears D1,500; D1,000
Subscriptions in advance D1,300; D800
Rates charged to the Income and Expenditure Account for the year 2004 is

1. A.D2,200
2. B.D1,600
3. C.D1,500
4. D.D1,400.