Question

8. Calculate the amount of subscription received to be shown in the Income &
Expenditure A/c of a Sports Club for the year ending on 31st December, 2014
on the basis of the following information :


Subscription received during 2014 ₹18000
Subscription due but not paid as on 31st December, 2014 ₹1800
Subscription received in advance in 2013 for 2014 ₹1000
Subscription received in 2014 for outstanding
amount of the year 2013 ₹600
Subscription received in 2014 for the year 2015 ₹800
​

Answer 1

Answer:

Income and expenditure account

expenditure. amt. Income. amt

subscription 18000

(+) outstanding

on31.12. 2014 1800

(-) outstanding

for 2013. 600

(+) advance

in2013. 1000

(-) received in. 800

2014

.. 19400