Question

A club is of 150 members. Subscription per member is Rs. 500 per month. Subscription of 8 members of whole year's was not received and subscription from 5 members has been received in advance for six months of the next year. The amount of subscription to be shown in receipt and payment Account will be

Answer 1

The actual amount of subscription

= 150×500 Rs.

=75000 Rs.

The remaining amount by 8 members

=500×8

=4000 Rs.

The advanced paid amount by 5 members for six months

=5×(½×500)

=1250 Rs.

Therefore,

The amount of subscription to be shown in receipt

=75000-1250+4000

=77,750 Rs/- is the payment account.

Answer 2

Answer:

The actual amount of subscription

= 150×500 Rs

=75000 Rs

Ther remaining amount of 8 members

=500×8

=4000 Rs.

The advanced paid amount by 5 members for 6 months

=5×(½×500)

=1250 Rs.

Therefore,

Tge amount of subscription to be shown in recipt

=75000-1250+4000

=77750 Rs. is the payment account

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