Entrance fee received (to be capitalised) ` 500, capital fund ` 40100. What amount will be posted in the income and expenditure account?

Entrance fee received (to be capitalised) ` 500, capital fund ` 40100.

1.	Entrance fee received (to be capitalised) ` 500, capital fund ` 40100. What amount will be posted in the income and expenditure account?
A.	` 500
B.	` 40600
C.	` 40100
D.	None of these
Answer» E.

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Entrance fee received (to be capitalised) ` 500, capital fund ` 40100. What amount will be posted in the income and expenditure account?

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