Question

26. The following particulars relate to a Club for the year ended 31st March 2020:
Outstanding subscription on 1/4/2019
Rs. 19,000
Outstanding subscription on 31/3/2020
Rs. 14,000
Advance subscription on 1/4/2019
Rs. 5,600
Advance subscription on 31/3/2020
Rs. 10,400
Subscription received during the year 2019-20 Rs. 150,000
Find out the amount of subscription to be shown in the income & Expenditure A/c for the
year 2019-20
firm haring profits in the ratio of 3:5. Their fixed capitals​

Answer 1

Explanation:

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