Question

Q 50. Subscription received in cash
during the year amounted to
3,00,000; subscription received in
advance for next year was 10,000
and received in advance during
previous year was 8,000.
Subscription in arrear at the end of
previous year was 18,000 and
subscription in arrear at the end of
current year was 12,000. The
amount credited to Income &
Expenditure Account will be:
(A) 32,96,000
O (
(B) 3,04,000
O (C) 2,92,000
O (D) 53,08,000
Back
Submit​

Answer 1

Answer:

3,00,000 - 10,000 + 8,000 - 18,000 + 12,000

= 2,92,000

hence correct ans is option c