Question

How are the following items of subscriptions shown in the Income and Expenditure Account for the year
ended 31st March, 2020 and Balance Sheets as at 31st March, 2019 and 2020?
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Subscriptions received during the year ended 31st March, 2020
3,58,500
Subscriptions outstanding on 31st March, 2019
30,000
Subscriptions received in Advance on 31st March, 2019
22,500
Subscriptions received in Advance on 31st March, 2020
13,500
Subscriptions outstanding on 31st March, 2020
37,500
(including 12,500 for the year ended 31st March, 2019)​

Answer 1

SUBSCRIPTION is the amount received by the Non Profit Organization for the the yearly, monthly, quarterly basis .

It is the income for the Non - Profit organisation and shown on the Income side ( Credit side ) of the Income & Expenditure Account.

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