Question

Q1 Subscription received in 2018-19. Rs. 50,000( including 800 of 2017-18)

Subscription outstanding for 2018-19. Rs. 2,000

For 2017-18. Rs. 1,000.

Show the treatment of above items in books of NPO.​

Answer 1

Answer:

income side of income and expenditure A/c :-

By Subscription 50,000

(less: Previous Year

subscription). - 800

(Add: Outstanding

current year). + 2,000

________ 51,200

Asset side of Balance sheet :-

Outstanding Subscription:

Previous Year(1000-800). 200

Current Year. 2000

______ 2,200