Question

From the following information calculate the amount of subscription to be

credited to the Income and Expenditure Account for the year 2019-20. 3

Particulars ₹

Subscriptions received during the year 50,000

Subscriptions outstanding on 31st March, 2019 20,000

Subscriptions outstanding for the year 2019-20 6,000

Subscriptions received in Advance on 31.03. 2019 8,000

Subscriptions received in Advance on 31.03. 2019 9,000

Subscriptions of ₹ 9,000 is still in arrears for the year 2018-19​

Answer 1

Explanation:

subscription received for. 50000

during year

less: subscription o/s. 9000

for 2018-19

less: subscription o/s. 6000

for 2019-20

add: subscription o/s. 20000

for 31/03/2019

less: subscription advance. 8000

received for 31/03/19

less: subscription advance. 9000

received for 31 03 19

Total. 38000

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Answer 2

Explanation:

Income ans expenditure A/c= 35,000

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