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