Question

what amount will be credited to income and expenditure account for the year ended March 2016. advanced subscription 1-4-15 8000. 31-3-16 2000. subscription received during the year 2015-2016 200000​

Answer 1

Answer:

2,06,000

Explanation:

subscription during the year - 2,00,000

add - advance subscription on 1.4.15 - 8,000

less advance subscription on 31.3.16 - (2000)

amount to be credited in income - 2,06,000

and Expenditure ac