Calculate the amount of subscription, which will be treated as income for the year ended 31st march 2018: 3 Subscription received during the year ended 31st march 2018 80000 Subscription outstanding in the beginning of the year ended 31st march 2018 25000 Subscription not yet collected for the year ended 31st march 2018 18000 Subscription for the year ended 31st march 2019 received in advance 12000
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Subscription received during the year = 80,000
Add : Closing Balance = 18,000
less : Advance Subscription = (12000)
less : Opening Balance = ( 25000 )
Subscription to be credited to Income & Expenditure A/C = 61,000
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