Question

.Subscription received during the year ` 1,80,000; Subscriptions outstanding at the end of the year ` 20,000; Subscriptions received in advance at the end of the year ` 10,000. The amount of subscription to be credited to Income and Expenditure Account will be

Answer 1

Rs 190000

Income for the year = 1,80,000 + 20,000 - 10,000= Rs 1,90,000

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