Question

25. Calculate the income from subscription for the year 2020-21 to be credited to Income and Expenditure
Account from the following information relating to a club:
Particulars
₹
Subscription received during the year (including * 50,000 for 2019-20, 75,000
for 2021-22 and 25,000 for 2022-23)
Subscription received in advance as on 1st April, 2020 (including 37,500 for 2021-22)
Subscription outstanding as on 1st April, 2020
Subscription outstanding as on 31st March, 2021
19,50.000
57500
1,00.000
1.25.000
Out of subscription outstanding as on 1st April, 2020, 37,500 are no larger receivable
Ans:19.52,500)
Calculation of the Amount of Consumable Items​

Answer 1

Answer:

liabilities

subscription received

50000+75000+25000

subscription outstanding

subscription outstanding

1950000

out of subscription outstanding 37500