Question

There are 500 members in a club each paying 100 as annual subscription. Subscription due but not received for the current year is 200; Subscription received in advance is 300. Find out the amount of subscription to be shown in the income and expenditure account. a) 50,000 b) 50,200 c) *49,900 d) *49,800

PLEASE explain too.. as I m getting 49,900 as my answer but the answer on textbook is
50,000 ​

Answer 1

Answer:

49,900

Explanation:

Subscription for the year 500*100-50000

Add: Outstanding Sub 200

Total - 50200

Less: Received in advance. 300

Subscription to be credited. 49,900