Question

13. Queen Sports Club received 1,60,000 as subscription for the year ending
31st March, 2019. There are 200 members each paying an annual subscription
of 1,000. Subscription of 15,000 was received in advance on 31st March,
2018. The amount of subscription outstanding for the current year is​

Answer 1

Answer:

Explanation:

Assuming, the amount of subscription outstanding for the current year is​ 30,000.

It was not mentioned in the question.

Total subscriptions 1000×200 members =200000

T. subscription recived =1,60,000

(-) Subscriptions o/s (op)      (30,000)

(-) Subscriptions rec. in adv  (15,000)

     (closing)

                                                                                                       

                                          1,15000            

​T. subscription         =          (2,00,000)                                              

o.s as on 31st, march =      85,000      

 

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