Question

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subscriptions received during 2018 - 19 was rs500000 and subscriptions credited to income and expenditures account was rs510000 find out subscriptions outstanding as at 31st march 2019 on the basis of the following

■ as at 31 march 2018
• subscriptions received in advance = 7000
• subscriptions outstanding =20000

■ as at 31 march 2019
• subscriptions received in advance = 8000
• subscriptions outstanding = ❓

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Answer 1

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Answer 2

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Subscriptions Receivable for the year ended 31st March 2019 = Number of Members X Annual Subscription

$= 450 \times rs500 = rs225000$

Subscriptions Outstanding =Total subscriptions -Subscrptions received for the year ended 31st March 2019

= Rs. 2,25,000 -Rs 2,11,000 =Rs 14,000