Question : Rotary Club Delhi received in 2017-18 Rs. 160000 as subscription. Further information is:
| Particulars | Amount (Rs.) |
| Subscription due but not received on 1-4-2017 | 10400 |
| Subscription received in advance on 1-4-2107 | 4800 |
| Subscription due but received on 31-3-2018 | 9600 |
| Subscription received in advance on 31-3-2018 | 1400 |
What amount should be credited to the income and expenditure account as subscriptions?
Option 1: Rs. 1,62,600
Option 2: Rs. 1,64,200
Option 3: Rs. 1,55,800
Option 4: Rs. 1,73,800
Correct Answer: Rs. 1,62,600
Solution :
| Particulars | Amount (Rs.) |
| Subscriptions received during the year | 160000 |
| Add: Outstanding subscription at the end of the year | 9600 |
| Less: Outstanding Subscription at the beginning of the year | 10400 |
| Add: Advance subscription at the beginning of the year | 4800 |
| Less: Advance subscription at the end of the Year | 1400 |
| Subscriptions credited to Income and Expenditure A/c | 162600 |
Hence, the correct option is 1.
Related Questions
Question : What amount will be credited to the income and expenditure account for the year ending 31 march 2022 on the basis of the following information:
| Particulars | 1-4-2021 | 31-3-2022 |
| Advance Subscription | Rs. 16000 |
Rs. 4000 |
Subscriptions received during the year 2021-22 were Rs. 4,00,000.
Option 1: Rs. 4,20,000
Option 2: Rs. 3,80,000
Option 3: Rs. 3,88,000
Option 4: Rs. 4,12,000
Question : What amount will be credited to the income and expenditure account for the year ending 31st march 2022 on the basis of the following information:
| Particulars | 1-4-2021 | 31-3-2022 |
| Outstanding Subscriptions | Rs. 40000 | Rs. 30000 |
| Advance Subscription | Rs. 8000 | Rs. 12000 |
Subscriptions received during the year 2021-22 were Rs. 10,00,000.
Option 1: Rs. 9,86,000
Option 2: Rs. 10,12,000
Option 3: Rs. 9,68,000
Option 4: Rs. 10,00,000
Question : What amount will be credited to the Income and Expenditure Account for the year ending 31st March 2022 on the basis of the following information:
| Particulars | 1-4-2021 | 31-3-2022 |
| Outstanding Subscription | Rs. 7500 | Rs. 9000 |
Subscriptions received during the year 2021-22 were Rs. 90,000.
Option 1: Rs. 73,500
Option 2: Rs. 91,500
Option 3: Rs. 88,500
Option 4: 1,06,500
Question : From the following information, calculate the amount of stationary consumed by the Rotary Club for the year ended 31st March 2022:
| Particulars | 31-3-21 | 31-3-22 |
| Balance of Stationary | 48000 | 59000 |
| Creditors for stationary | 418000 |
390000 |
During the year creditors were paid Rs. 6,00,000.
Option 1: Rs. 5,61,000
Option 2: Rs. 5,72,000
Option 3: Rs. 5,50,000
Option 4: Rs. 5,30,000
Question : In the year 2020-21, salaries paid amounted to Rs.1,20,000. Find the amount to be debited to Income and Expenditure Account for the year ending 31st march 2021 after considering the following information:
| Particulars | Amount |
| Outstanding Salaries on 31-3-2020 | 9000 |
| Outstanding Salaries on 31-3-2021 | 13500 |
| Prepaid salaries on 31-3-2020 | 5400 |
| Prepaid salaries on 31-3-2021 | 4200 |
Option 1: Rs. 1,29,000
Option 2: Rs. 1,14,300
Option 3: Rs. 1,25,700
Option 4: Rs. 1,38,900
