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Question :

A club received Entrance fees of Rs.22,000. The club capitalises 15% of the entrance fee. The amount to be credited to Income and Expenditure A/c will be:

Option 1:

Rs.14,700

Option 2:

Rs.18,700

Option 3:

Rs.3,300

Option 4: None of these


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 14th Jan, 2024

Correct Answer:

Rs.18,700


Solution : Entrance fees to be credited to Income and Expenditure Account = Rs.22,000 X (100 - 15)% = Rs.22,000 X 85% = Rs.18,700. Hence, the correct option is 2.

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