Question

Royal Club has 500 members, who pay annual membership fee 300 each.
450 members paid his fee for current year whereas 20 members have paid the fee for
next year. What amount of membership fee will appear in Receipts & Payments Account?​

Answer 1

royal club members=500 annual membership fees =300. 500×300=150000.

current year fees = 450.

next year fees =20. 450×20=9000. the amount of membership fees is 150000-9000=141000