QA10-4 from the following Peupare income & Exp. All fore the year ended 31-3-2019 and a Balance sheet as at (8) that date Receipts To cash in hand To Subscription (Include 800 for the year 31-3-2020) To Donation To Proceeds from chwity show To Sake of fwiniture (Book yolue £4000) To Life Mem. fees To Int on Investment (cost value £40000) To Sale of old care Additional Information 4900 52100 6000 16 200 1600 9000 20000 1.14.600 Payment By Salaries By Thovelling Exp By Printing & sta. By Rent Bў rераiм By Repain By Building By Govt. Bonds By Bal-cid on 1-4-18 building &40000 and furniture Valued & 10500. There were 150 Life Members on that date, each of whom had laid Subscription of & 100. The book value of car was & 25000 subscription Due on 31-3-18 3400 and on 31-3-19 & 2000. Interest on Investment due at the beginning of the year was & Boo and at the end of the year was £ 1000. Income & 20,10 0 8.60.0 1.720 16.600 450 30,000 5000 32130 1.14.600
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Answer:
Subscriptions Receivable for the year ended 31st March 2019
= Number of Members X Annual Subscription
=450×Rs500=Rs.2,25,000
Subscriptions Outstanding =Total subscriptions -Subscrptions received for the year ended
31st March 2019
= Rs. 2,25,000 -Rs 2,11,000 =Rs 14,000.
Subscriptions in arrears for the year ended 31st March 2018 in the beginning of 2018-19 war Rs. 4,500, out of which Rs. 4,000 were received in the year ended 31st March 2019.
Explanation. Subscriptions received for the year ended 31st March 2019 have been given separately in the Receipts and Payments Account. The amount does not include any subscriptions which have been received on account of previous year or the next year as was the case in the previous illustration.