Question

There are 500 members , each paying an annual subscription of ₹ 500. SUBSCRIPTION received during the year ₹2,39,000 and subscription received in advance at the beginning of the year ₹ 7000 and at the end of the year ₹ 4000.What amount is to be shown in income and expenditure a/c​

Answer 1

Answer:

Answer

Correct option is

A

32,000

Option A is correct.

Subscription received for the year 2008-09 = Rs. 30000

Add : Subscription received in advance = Rs. 2000

Amount to be shown in Income and Expenditure Account =

30000+2000

32000.