Question

In 2004 the subscription received were Rs.21000.These subscriptions include Rs. 300 for 2003 and Rs 400 for 2005. On 31st December, 2004 subscriptions due but not received were Rs. 500. What amounts should be credited to the income and expenditure account as subscriptions?

Answer 1

Agriculture can be called the backbone of India's economic system because two-thirds of the Indian population is engaged in the cultivation of land. Agriculture not only helps to feed the large population, but it also supports the principal manufacturing industries with raw materials.