Question

Subscription in the year Rs. 20,000. Subscription received in Advance is Rs. 1200 And

Subscription Outstanding Rs.1000. Amount credited to Income and Expenditure A/c will be

(a) Rs. 20,800 (b) 20,400 (c) Rs. 19,800 (d) Rs. 21,200​

Answer 1

ANSWER :

★ Option (c) Rs. 19,800

• ✎ If Subscription in the year Rs. 20,000; Subscription received in Advance is Rs. 1200 and Subscription Outstanding Rs. 1000; then the amount credited to Income and Expenditure A/c will be Rs. 19,800.

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SOLUTION :

❒ Given :-

• Subscription in the year Rs. 20,000.

• Subscription received in Advance is Rs. 1,200.

• Subscription Outstanding Rs. 1,000.

❒ To Calculate :-

• Amount to be credited to Income and Expenditure Account = ?

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❒ Calculation :-

Here,

• ⊚ Subscription Received during the year = Rs. 20,000

✠ Add : Subscription Outstanding for the year = Rs. 1,000

• ⊚ Amount of Subscription Obtained = Rs. 21,000

✠ Less : Subscription Received in Advance = Rs. 1,200

• ⊚ Amount to be credited to Income and Expenditure A/C = Rs. 19,800

Hence,

• An amount of Rs. 19,800 to be credited to Income and Expenditure Account.

Answer 2

Answer:

19,800

Explanation:

SUBSCRIPTION RECEIVED DURIND THE YEAR    ₹ 20,000

(+) SUBSCRIPTION OUT STANDING                       ₹    1,000

(-) SUBSCRIPTION RECEIVED IN ADVANCE         ₹     1,200

AMT TO BE CREDITED IN INCOME AND EXP

  ENDETURE A/C IS                                                  ₹ 19,800