Question

subscription received in the year 2004 is 17500which include 400 2003 and and 600 for 2005at the end of 2004 subscription outstanding at the end of the year 500 the subscription due but not received at the end of the year that is 2003 where rupees 600 what amount should be credited in income and expenditure account and subscription ​

Answer 1

Explanation:

For the o/s amount of subscription in the previous year it is stated that at the end of year of 2003 o/s subscription was RS 600 and during this year out of RS 600 of previous year RS 400 is received therefore only RS 400 is subtracted and the remaining RS 200 will be shown in the balance sheet of current year in the asset side as o/s subscription of previous year amounted RS 200..