Subscription received in cash during the year amounted to ₹40,000; subscription outstanding at the end of previous year was ₹1,500 and outstanding at the end of current year was ₹2,000. Subscription received in advance for next year was ₹800. The amount credited to Income & Expenditure Account will be:
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Answered by
1
Income for the year = 40,000 - 1,500 + 2,000 + 800
= Rs 39,700
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0
Answer:
Rs. 39700
Income for the year = 40,000 - 1,500 + 2,000 + 800
= Rs 39,700
Explanation:
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