Question

Receipts and Payments Account of Friends Club showed that ₹ 6,85,000 were received by way of subscriptions for the year ended on 31st March, 2018.
The additional information was as under:
(a) Subscription outstanding as on 31st March, 2017 were – ₹ 65,000.
(b) Subscription received in advance as on 31st March, 2017 were – ₹ 41,000.
(c) Subscription outstanding as on 31st March, 2018 were – ₹ 54,000.
(d) Subscription received in advance as on 31st March, 2018 were – ₹ 25,000.
Show how the above information would appear in the final accounts for the year ended on 31st March, 2018 of Friends Club.

Answer 1

The above mentioned information's calculations are added as an attachment