Calculate net subscription value for the following data current years subscription₹500000 outstanding subscription of current year ₹ 50000 subscription of current year received in advance in previous years ₹ 30000
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Answer:
Explanation:
Subscription received during the year = ₹ 5,00,000
(+) Due for current year = ₹ 50,000
(+) Received in advance for previous year = 30,000
Amt credited to Income and Expenditure a/c = 5,80,000
More information
Subscription received during the year
(+) Due on closing
(-) Due on Opening
(+) Prepaid on opening
(-) Prepaid on Closing
(+) Advance on Opening
(-) Advance on Closing
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