Question

13. Subscriptions received during the year ended 31st March, 2019 are:
For the year ended 31st March, 2018
1,600
For the year ended 31st March, 2019
84,400
For the year ended 31st March, 2020
3,200 89,200
There are 450 members, each paying an annual subscription of * 200; 1,800 were in arrears for the year
ended 31st March, 2018
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended
31st March, 2019
[Ans.: Subscriptions_ 90,000.]

Answer 1

Answer:

RS 90,000

Explanation:

Amount which is credited in the income and expenditure a/c is the amount of the subscription which is to be received in the current year..

therefore as the total no. of members and their amount of subscription is given

hence amount of subscription to be credited to I&E a/c = 450*200

= RS 90,000

for the calculation of o/s subscription of current year I'm attaching a picture of solution....

Answer 2

Subscription to be credited to income and expenditure A/c is 90,000