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5. Find out the amount of subscription to be posted to the Income and Expenditure account of
Lions Club for the accounting year ending Dec. 2021 from the following information:
Subscription received for 2020-480 ; 2021- 25,320 and 2022-2960.
There are 1,800 active members of the club and each has to subscribe * 15 annually. * 540
were in arrears for 2020 at the beginning of the current year 2021.
(P.S.E.B. Sep. 1998 modified) [Ans. *27,000]
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Explanation:
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