Question

During the year ended 31st March, 2020, subscriptions received by Kings Club, Delhi were 4,09,000 including
75.000 for the year ended 31st March, 2019 and 10,000 for the year ended 31st March, 2021. At the end
of the year ended 31st March, 2020, subscriptions outstanding for the year ended 31st March, 2020 were
15.000. The subscriptions due but not received at the end of the previous year, i.e., 31st March, 2019 were
8,000, while subscriptions received in advance on the same date were 18,000.
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended
31st March, 2020.​

Answer 1

Heya mate your answer is

due both in the beginning of the year and at the end of the year.

Prepare Income and Expenditure Account of the club for the year ended 31st March

HOPE THIS HELPS ❤️

PLEASE MARK AS BRAINLIEST ❤️❤️❤️

Answer 2

Your answer is attached below please check from there.

Explanation:

We have to make certain adjustment to the subscription amount to reach the amount of the subscription to be transfer to Income and expenditure account.

• Subscription outstanding at the end of current year will be added to the amount of subscription.
• Subscription outstanding at the beginning of the current year will be deducted form the amount of subscription.
• Subscription received in advance during the end of the current year will be deducted from subscription as it relates to the next year.
• Subscription received in advance at the end of the previous year will be added to the subscription as it relates to the current year.