Accountancy, asked by Aniketkannaujia, 7 months ago

club has 250 members each paying an annual subscription of Rs. 1,000. The receipt and payments account for the year ended 31st March, 2019 showed Rs. 2,65,000 received as subscription. Additional information provided is: Subscription outstanding on 31st March, 2018 Rs. 40,000 Subscription received in Advance as on 31st March, 2019 Rs. 30,000 Subscription received in Advance as on 31st March, 2018 Rs.12,000 _______Amount that will be shown as Outstanding Subscription as on 31st March, 2019

Answers

Answered by beutyflowers1010
25

Answer:

subscription received. = 265000

o/s last year =. (40000)  

received in advance current year =(30000)  

received in advance last year = 12000  

=. 207000  

total subscription to be received =250000(250*1000)

outstanding subscription =250000-207000

=43000

Not sure about the answer!

Answered by steffiaspinno
4

The Outstanding subscription for 31st march 2019 is ₹43,000

Given that the club has 250 members and each pays an annual subscription of ₹1,000. The total subscription that the club received every year = 250 * 1000

= ₹2,50,000

Now, make adjustments to find the correct amount of subscription received for the year:

Subscription received in 31st March 2019                 = ₹2,65,000

Less: subscription outstanding for 31st March 2018 = (₹40,000)

Add: advance subscription  for 31st March 2018      = + ₹12,000

Less: advance subscription  for 31st March 2019     = (₹30,000)

Total subscription received for 31st March 2019 = ₹2,07,000

Subscription outstanding for 31st March 2019 = Total subscription that club receives every year - total subscription received for 31st march 2019

= 2,50,000 - 2,07,000

= ₹43,000

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