Question

If Rs.1,500 Was Outstanding At The Beginning Of The Year Towards Subscription And Rs.10,000 Is Received During The Year, With Rs.2,500 Still Outstanding At The End Of The Year The Amount To Be Taken To Receipts And Payments Account Is​

Answer 1

Answer:

In case we have separate fund for some particular functions, in such cases receipts and incomes relating to that particular fund would be credited to that particular fund and payments and expenses are debited to the same fund. E.g. Building Fund, Sports Fund, Prize Fund, etc.

Answer 2

Answer:

11000 rs

Explanation:

the amount to be taken to receipt and payment acc

= amount recieved during the year + outstanding amount at the end of the year - outstanding amount at the beginning of the year

= 10000 + 2500 - 1500

= 11000