Question

Q.1

During 2016, subscription received in cash is Rs. 42000. It includes Rs. 1,600 for 2015 and Rs. 600 for 2017. Also, Rs. 3000 has still to be received for 2016. Calculate the total amount of subscription to be credited to Income & Expenditure account if there are 428 members and annual subscription is Rs 100​




1 marks question

Answer 1

Answer:

subscription received for current year = 42,000-(1600+600) = 39,800

amount to be credited = 39,800+3000= 42,800