Question

Q. 16. Calculate the amount of subscription to be credited to Income and
Expenditure Account for the year ended 31st March 2020 :
Particulars
(a) Subscription in arrears as on 1st April 2019
45,000
(Out of which 5,000 was not recoverable)
(6) Total Subscription received during the year ended 31st March 2020 6,00,000
(including 32,000 for 2018-19, 330,000 for 2020-21, 320,000
for 2021-22 and 35,000 for 2022-23)
(c) Subscription received in advance as on 1st April 2019
30,000
(including 10,000 for 2020-21)
(d) Subscription in arrears as on 31st March, 2020
70,000
[Ans. Subscription to be credited to Income & Expenditure Account 35,95,000.)
Hint : Subscription received in advance as on 31st March 2020, 265,000.​

Answer 1

Answer:

Particulars

(a) Subscription in arrears as on 1st April 2019

45,000

(Out of which 5,000 was not recoverable)

(6) Total Subscription received during the year ended 31st March 2020 6,00,000

(including 32,000 for 2018-19, 330,000 for 2020-21, 320,000

for 2021-22 and 35,000 for 2022-23)

(c) Subscription received in advance as on 1st April 2019

30,000

(including 10,000 for 2020-21)

(d) Subscription in arrears as on 31st March, 2020

70,000

[Ans. Subscription to be