Use the information below to answer the question that follows:
On January 1,2000, a club’s assets and liabilities were as follows:
Club house ₦8,000
Subscription ₦300
Cash ₦1,000
Wages owed ₦100
The club has 50 members and annual subscription is ₦100 per member.
Subscription received is ₦4,000 and this includes 1999 arrears of ₦200.
The accumulated fund is
Options
A) ₦9,400
B) ₦9,300
C) ₦9,200 >>>>>>>>
D) ₦9,100
The correct answer is C.
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