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
Correct Answer: Rs 5,86,000
Solution : Subscription received during 2017-2018 = Rs 5,75,000 (6,00,000 - 25,000) (+) Subscription due but not received = Rs 33,000 (-) Subscription outstanding for the year = (Rs 22,000) Amount credited to I&E A/c = Rs.5,86,000
Hence, the correct option is 3.
Question : During the year ended 31st March, 2020, subscriptions received were Rs. 21,00,000. These subscriptions include Rs. 30,000 for the year ended 31st March, 2019 and Rs. 40,000 for the year ending 31st March, 2021. On 31st March, 2020, subscriptions due but not
Question : During the year ended 31st March 2020, subscriptions received were Rs. 31,00,000. These subscriptions include Rs. 60,000 for the year ending 31st March 2019 and Rs. 80,000 for the year ending 31st March 2021. On 31st March 2020, subscriptions due but not
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.
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