Calculate the income from subscription for the year 2019 from the following
information of ABC Club.
Date
Amount
(subscription received in advance)
01.01.2019
Rs. 10,000
31.12.2019
Rs.4000
The Subscription received during the year 2019 is Rs. 40,000. There are 300 Members in the Club, each member pay Rs. 200/-p.a.
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Answer:
60000 will be shown on the credit side of income and expenditure account.
Explanation:
300 members
each paying 200
300×200=60000
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