Question

Subscription received in cash during the year is 5000 the amount received in advance for the next year is 300 and the amount outstanding for the current year is 400.The amount to be credited to the income and expenditure account. Solution

Answer 1

Answer:

Explanation:

subscription received during the year is          5,000

(+)o/s for the current year                                      400

(-)advance for the next year                                   300

Amt of subscription credited  to

income and exp a/c is                                        5,100