Question
4: UEWK social club has membership of 300. Annual subscription is GHS 200,000 per member. You are told that as at January 1, 2009, subscription
4: UEWK social club has membership of 300. Annual subscription is GHS 200,000 per member. You are told that as at January 1, 2009, subscription prepaid was GHS 1,600,000 and 10-members subscriptions were in arrears as at January 1, 2008 totaled GHS 2,000,000. During the year, additional 50 members were admitted. Subscription received during the year amounted to GHS 64,000,000 and this excluded cash received from 8 members in respect of the amount they were owing as at January 1, 2008, and also 12 members who made advance payment for 2010. Any subscription due over one year is written off as bad. Prepare the subscription account to show the amount to be transferred to the Income and Expenditure Account. Complete the table below by filling in the blank space provided with the correct responses. Items Subscription due received in 2009. Total subscription received in 2009.. Total subscription due in 2009 Total Subscription received in 2009 but was due in the previous year(s) . Total Subscription due in 2009 but received in the previous year(s) .. Total Subscription received in 2009 and was due in 2009.. Total Subscription due in 2009 but was not received as the close of 2009. Total Subscription received in 2009 but is due in 2010. Total Subscription written off as bad in 2009 Current assets as at 1/1/0931/12/09. Current liability as at 1/1/0931/12/09
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