Question

There are 200 members, each paying an annual subscription of 10 subscription received during the year ₹1,95,000; subscriptions received advance at the beginning of the year ₹23,000 and at the end of the year ₹2,000 Amount shown in Income Expenditure Account will be​

Answer 1

Answer:

Total subscriptions 21000×200 members =200000

T. subscription recived =2,05,000

(-) Subscriptions o/s (op) (30,000)

(-) Subscriptions rec. in adv (40,000)

(closing)

1,49,000

T. subscription (2,00,000)

o.s as on 31st, march 17

51,000