From the following information, prepare Subscription Account for the year ending 31st March, 2020:Subscription in Arrears20,000 - 31/03/201818,000 - 31/03/2019Subscription in Advance13,000 - 31/03/201811,000 - 31/03/2018In the year ending 31st March, 2020, subscription received were 2.10,000 (including 6,000 of arrears from previous year) and subscription arrears of previous year were written off 4,000.
Answers
Answer:
The total amount for the subscription a/c will be 1,90,000
subscription will be shown in the income side as follows:
Subscription received 2,10,000
(-) subscription for 2019 (20,000)
(18,000+6,000-4,000) =========== 1,90,000
Explanation:
The only amount that will be taken into consideration while calculating the subscription a/c will be the previous year (2019), current year (2020) and the next year(2021).
In this question, the amount given for 2018 will be ignored.
Format:
received amount in current year
(+) advance in previous year
(+) o/s in the current year
(-) adv for next year
(-) o/s in the previous year
Answer:
Explanation:IMG_20200810_170017.jpg
