How did you get surplus for the year 15190 can you break it down pls

Question

ScanSolve AI Tutor · Accepted Answer

The surplus for the year is calculated by subtracting the total expenditure from the total income.

Here's the breakdown:

Calculate Total Income for the year ended 30th June, 20X2.
$\begin{align*} \text{Subscriptions:} \\ \quad \text{Received (20X1: N105,000 + 20X2: N14,000 + 20X3: N2,800)} & = \text{N}121,800 \\ \quad \text{Add: Arrears at 30/6/X2} & = \text{N}8,400 \\ \quad \text{Less: Arrears at 30/6/X1} & = (\text{N}9,800) \\ \quad \text{Less: Prepaid at 30/6/X2 (20X3 subscriptions received in 20X2)} & = (\text{N}2,800) \\ \text{Subscriptions for the year} & = \text{N}117,600 \\ \text{Registration fees} & = \text{N}119,000 \\ \text{Donations} & = \text{N}93,800 \\ \textbf{Total Income} & = \text{N}117,600 + \text{N}119,000 + \text{N}93,800 \\ & = \textbf{N}330,400 \end{align*}$
Calculate Surplus for the year.
$\begin{align*} \text{Surplus} & = \text{Total Income} - \text{Total Expenditure} \\ \text{Surplus} & = \text{N}330,400 - \text{N}315,210 \\ \text{Surplus} & = \boxed{\text{N } 15,190} \end{align*}$
The total expenditure of N315,210 was explained in the previous response.

Answer