During the year 2015, subscriptions received by a sports club were Rs. 80.000>These included Rs. 3.000 for the year 2014 and Rs.6,000 for the year 2016.>On March 31, 2016 the amount of subscriptions due but not received was>Rs. 12.000. Calculate the amount of subscriptions to be shown in Income>and Expenditure Account as income from subscription.
Answers
Answer:
Explanation:
Particulars Amount
Subscription received 80000
Less: outstanding of previous year 3000
Less: Advance for next year 6000
Add: outstanding for current year 12000
Subscription to be credited in income and expenditure account 83000