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Question 167 of 523

Turaki Youth Club Income and Expenditure for the year ended 31/12/04

# #
Bal.b/d 390 Expenses on cleaning 300
Sales of - New tool 510
trickets 4,000 Repairs 400
Donations 3,000 Electricity 350
Subscription 6,500
What is the total income for the period?

  • A. #10,500
  • B. #13,500
  • C. #13,890
  • D. #9,500

Correct Answer: C

Explanation
To determine the total income for the Turaki Youth Club for the year ended 31/12/04, we need to identify all sources of income listed in the provided information. Let's break down the components step-by-step. Step 1: Identify Income Sources From the information given, we can identify the following sources of income:
  1. Sales of Tickets: #4,000
  2. Donations: #3,000
  3. Subscriptions: #6,500
  4. Sales of New Tool: #510
Step 2: Calculate Total Income Now, we will sum all the identified income sources:
  • Sales of Tickets: #4,000
  • Donations: #3,000
  • Subscriptions: #6,500
  • Sales of New Tool: #510
Now, let's add these amounts together: [ \text{Total Income} = \text{Sales of Tickets} + \text{Donations} + \text{Subscriptions} + \text{Sales of New Tool} ] [ \text{Total Income} = 4,000 + 3,000 + 6,500 + 510 ] Calculating this step-by-step:
  1. First, add Sales of Tickets and Donations: [ 4,000 + 3,000 = 7,000 ]
  2. Next, add Subscriptions: [ 7,000 + 6,500 = 13,500 ]
  3. Finally, add Sales of New Tool: [ 13,500 + 510 = 14,010 ]
Step 3: Review the Calculation Upon reviewing the calculation, it appears that I made an error in the final addition. The correct total income should be: [ \text{Total Income} = 4,000 + 3,000 + 6,500 + 510 = 14,010 ] However, since the options provided do not include this total, we need to ensure we are only considering the relevant income sources. Step 4: Clarifying the Options Now, let's analyze the options provided:
  • A. #10,500: This does not match our calculated total.
  • B. #13,500: This is the total of Sales of Tickets, Donations, and Subscriptions only, excluding the Sales of New Tool.
  • C. #13,890: This is not a correct total based on the provided figures.
  • D. #9,500: This is also not a correct total.
Conclusion The correct total income, based on the provided figures, should be #14,010, which is not listed among the options. However, if we consider only the main income sources (excluding the sales of the new tool), the total would be #13,500, which corresponds to option B. Summary of Key Points
  • Total income includes all sources: Sales of Tickets, Donations, Subscriptions, and Sales of New Tool.
  • The correct calculation of total income is essential for accurate financial reporting.
  • Always double-check calculations to ensure accuracy.
  • Understand the context of the options provided to select the most appropriate answer.
In this case, the best answer based on the options provided is B. #13,500, as it reflects the total income excluding the sales of the new tool.
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