Question

Compute the income from Subscription for the year 2018 from the following
particulars relating to a club.
Particulars 1-4-2017 (`) 31-3-2018(`)
Outstanding Subscription 95,000 70,000
Advance Subscription 28,000 52,000
Subscription received during the year `8,80,000

Answer 1

880000+28000-52000-95000+70000

Answer 2

Answer:

Explanation:

Computation of Income & Expenditure A/c

Subscription received during the yr. 880,000

Add: Subscription outstanding on 31-3-18 = 28000

Add: subscription received in advance on 1 -4- 2017-= 95000

                                                                                              ---------------

                                                                                                 1003,000

Less: Subscription outstanding on 1-04-17 = 70,000

Less: Subscription received in advance on 31-3-18 = 52000

Amount to be credited to Income & Expenditure A/c ====→ 881,000