Calculate the amount of Subscription to be credited to Income and Expenditure account for the year 2019-20.
Particulars
Amount ()
Amount received during the year (including 20,000 for 2018-19, 30,000 for
2020-21 and 10,000 for 2021-22)
7,80,000
Subscription received in advance as on 01-04-2019 (including 15,000 for
35000
2020-21)
Subscription in arrears as on 01-04-2019
40000
Subscription in arrears as on 31-03-2020
50000
Out of subscription in arrears on 01-04-2019, '15,000 are no longer recoverable.
Answers
Answered by
76
Answer:
Amount received during the year = 7,80,000
+ opening advance = 35000
+closing arrears = 50000
= 865000
- closing advance = (15000)
- opening arrears (40000-15000) = (25000)
amount transfer to income and expenditure a/c is = 825000.
Answered by
8
Answer:
Explanation:
Amount received during the year = 7,80,000
+ opening advance = 35000
+closing arrears = 50000
= 865000
- closing advance = (15000)
- opening arrears (40000-15000) = (25000)
amount transfer to income and expenditure a/c is = 825000
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