Question : From the following information, calculate the amount of subscription due to be shown as on 31st March, 2018 if there are 1,000 members and each paying Rs 300 p.a as subscription:
1. Subscription received during the year 2017-2018 Rs 3,00,000
2. Subscription received in advance as on 31.3.2018 Rs 36,800
3. Subscription outstanding as on 1-04-2017 Rs 32,000
4. Subscription received in advance as on 1-04-2017 Rs 25,000
Option 1: Rs 43,800
Option 2: Rs 30,000
Option 3: Rs 33,800
Option 4: None of the above
Correct Answer: Rs 43,800
Solution : Subscription credited to I&E A/c = Rs.3,00,000 (-) Amount received = (Rs3,00,000) (+) Subscription received in advance as on 31.3.2018= Rs 36,800 (+) Subscription outstanding as on 1-04-2017 = Rs 32,000 (-) Subscription received in advance as on 1-04-2017= (Rs 25,000) Amount of subscription due = Rs.43,800
Hence, the correct option is 1.
Question : From the following information, determine the amount of subscriptions to be credited to Income and Expenditure account for the year ended 31st March 2018.
1. Subscription received during 2017-2018 Rs 6,00,000 (including Rs 25,000 for the year ended 31st March 2019 and Rs 15,000 for the year ended 31st March 2017).
2. Subscription due but not received on 31st March 2018 Rs 33,000.
3. Subscription outstanding for the year ended 31st March 2017 Rs 22,000.
Option 1: Rs 6,11,000
Option 2: Rs 5,46,000
Option 3: Rs 5,86,000
Option 4: Rs 5,00,000
Question : The subscription credited to the Income and expenditure account was Rs.4,00,000. Subscription outstanding at the end of the previous year was Rs.20,000 and outstanding at the end of the current year was Rs.25,000. The subscription received in advance for the next year was Rs.8,000 and received in advance during the previous year was Rs.7,000. What was the amount recorded in the Receipts and Payment Account?
Option 1: Rs 3,96,000
Option 2: Rs 3,95,000
Option 3: Rs 4,25,000
Option 4: Rs 4,96,000
Question : There are 400 members of the club, each paying an annual subscription of Rs 200. Total subscriptions received during the year 2018-2019 were Rs 78,000 (including Rs 4,000 for last year and Rs 1,000 for next year) During 2017-2018, 15 members had paid their subscription for 2018-2019 also. What is the subscription outstanding for the current year?
Option 1: Rs 9,000
Option 2: Rs 80,000
Option 3: Rs 4,000
Option 4: Rs 3,000
Question : Subscription credited to Income and Expenditure Account was Rs 3,00,000, Subscriptioin received in advance for next year was Rs 30,000 and received in advance during previous year was Rs 20,000. Subscrptions in arrear at the end of current year were Rs 7,000. What was the total subscription recorded in the Receipts and Payment Account?
Option 1: Rs 3,00,000
Option 2: Rs 3,03,000
Option 3: Rs 3,10,000
Option 4: Rs 3,23,000
Question : Subscription received during the year 2019-20: Rs. 75,000. Outstanding Subscription as of 31st March 2019: Rs. 50,000 The amount shown as a subscription in the income and expenditure account will be
Option 1: Rs. 50,000.
Option 2: Rs. 1,50,000.
Option 3: Rs. 1,00,000.
Option 4: Rs. 1,25,000
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