Question

A club has 300 members, each paying an annual subscription of Rs.500. On 31st March, 2019, Advance Subscription is Rs.4,000 and Outstanding Subscription is Rs.10,000. Income and expenditure account will be credited by.....................
as subscription for the year ended 31st March, 2019.
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Answer 1

Answer:

Total subscriptions 21000×200 members =200000

T. subscription recived =2,05,000

(-) Subscriptions o/s (op) (30,000)

(-) Subscriptions rec. in adv (40,000)

(closing)

1,49,000

T. subscription (2,00,000)

o.s as on 31st, march 17

51,000