Question

0. 18. From the following extract of Receipts and Payments Account an
additional information given below, compute the amount of income from subscrip
and show as how they would appear in the income and Expenditure Account fo
year ending March 31, 2017 and the Balance Sheet as at that date : paymentsend payment account for the year ended 31st March 2017 additional information subscription outstanding March 31st 2016 10215 outstanding mein 31st March 2017 25,000 subscription received in advance as on 31st March 2016 4000 solve question​

Answer 1

Answer:

Total amount of subscriptions outstanding as on 31-3-2015 are Rs. 18,500. This, includes Rs. 1,500 (Rs. 8,500 – Rs. 7,000) for subscriptions still outstanding for 2013–14. Hence, the subscriptions outstanding for 2014–15 are Rs. 17,000 (Rs. 18,500 – Rs. 1,500).

Balance Sheet (Relevant Data) as on March 31, 2015

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