Question

From the following details of a club calculate net subscriptions

for the year ending 31st December 2015.

Rs.

Subscriptions received as per receipts and payment a/c 10,000

Subscriptions outstanding on 31.12.14 2,000

Subscriptions outstanding on 31.12.15 4,000

Subscriptions received in advance as on 31.12.14 3,000

Subscriptions received in advance as on 31.12.15 2,000​

Answer 1

Answer:

₹13,000

Explanation:

Subscription as per Receipts & Payments A/c 10000

(-) Subscription outstanding on 31.12.14 2000

(+) Subscription outstanding on 31.12.15 4000

(+) Subscription received in advance on 31.12.14 3000

(-) Subscription received in advance on 31.12.15 2000

10000 - 2000 + 4000 + 3000 - 2000

= 13000₹

Hope it helps.