Question

I want in sept by sept solution
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.
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if u will give correct answer I will mark u as brain list
plz ​

Answer 1

Explanation:

previous year = 2019 - 20

Current year = 2020 - 21

Next year = 2021 - 22

Now,

(a) Subscription in arrears on 1st march 2020 - here it means subscription outstanding as on previous year so it will subracted (all previous year and next year will be subracted)

(b) subscription received in advance in 31st march 2020 for 31st march 2021 - here it means subscription received in advance in previous for current year so it will be added.  

(c) Total subscription received = 35400

    out of which

for previous year (2019-20) = 400

for next year (2021-22) = 1200

for (2022- 2023)= 300

so when we subracted all next year and previous year we get

33500 total subscription received in 31st march 2021

(D) subscription outstanding for 31st march 2021 - means subscription outstanding for cy so it will be added

SOLUTION

I will write the CR (income side) side on Income and Expenditure a/c only as the DR (expenditure side) will be empty            

                                                                                                          Cr.

 Income                                                                                    amount

Total subscription received                                   33,500

Subsciption outstanding for currrent year              + 400

Subscription received in advance in

Previous year for current year                                + 1,100

Subscription outstanding of previous year            -  (500)      34,500