Question

subscription received during the year ended March 31 ,2017 by Hyderabad arts club were as under 2015-2016 =5000 , 2016-2017 = 108000 and 2017-2018 = 3000 . additional information : total number of members 240 , annual subscription fee 500 and subscription outstanding on April 1 ,2016 9000​

Answer 1

Answer:

In Income & Exp Account Rs. 500 x 240 = 120000 In Balance Sheet Asset Side: Outstanding Sub = 16000 2015-16 = 9000-5000 = 4000 2016-17 = 120000- 108000= 12000 Liability Side: Advance Subscription 2017-18 = 3000

Explanation:

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Answer 2

Answer:

Advance Subscription 2017-18 = 3000

Explanation:

In Income & Exp Account Rs. 500 x 240 = 120000

Less:In Balance Sheet Asset Side: Outstanding Sub = 16000 2015-16 = 9000-5000 = 4000 2016-17 = 120000- 108000= 12000

Liability Side: Advance Subscription 2017-18 = 3000

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