Question

Calculate the income from subscription for the year 2015 from the following information
relating to Annapurna Sports Club :
1.1.2015 31.12.2015
5,000 2,000 Subscription received in Advance
Total subscription received during the year 2015 is 20,000
each paying 100 per annum. There are 300 members in the​ club

Answer 1

Answer:

                      Income and Expenditure Account

                                     As on 31 st December,2011   

ExpenditureAmt.(Rs.)

IncomeAmt. (Rs.)Subscription for 2011              93,000

(+) Outstanding for 2011           7,000  

(500 members × Rs. 200)1,00,000                                                   Balance Sheet  

                                          As on 31 st December, 2006

LiabilitiesAmt.AssetsAmt.

Subscription Received 

in Advance for 20122,000Subscription

Outstanding for 2010         3,000

(6,000 - 3,000)

Subscription 

Outstanding for 2011          7,000