Question : Salary paid for the year ended 31st March, 2019 amounted to Rs 1,00,000 and Salary recorded in Income and expenditure account was Rs 99,700. Outstanding salary on 1st April 2018 Rs 6,500 and advance paid in 2018 for 2019 Rs 3,200. Advance paid in 2019 for 2020 were Rs 3,000. Calculate the amount of subscription due at the end of the current year will be _________.
Option 1: Rs 9,200
Option 2: Rs 6,000
Option 3: Rs 10,200
Option 4: Rs 6,600
Correct Answer: Rs 6,000
Solution : Salary recorded in Income and expenditure account = Rs 99,700 Salary paid for the year ended 31st March, 2019 = (Rs 1,00,000) (+) Outstanding salary = Rs 6,500 (-) Advance paid in 2018 for 2019 = (Rs 3,200) (+) Advance paid in 2019 for 2020 = Rs.3,000 Amount of subscription due at the end of the current year = Rs.6,000 Hence, the correct option is 2.
Question : Subscription received in cash during the year amounted to Rs 1,00,000 (excluding life membership fee Rs 10,000). Subscription outstanding at the end of previous year was Rs 2,000 and outstanding at the end of the current year was Rs 2,500. Subscription received in advance for next year was Rs 800. what will be the amount credited to Income and Expenditure Account?
Option 1: Rs 99,700
Option 2: Rs 1,09,700
Option 3: Rs 1,00,500
Option 4: Rs 1,02,500
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 the Income and Expenditure account was Rs 4,00,000, Subscription outstanding at the end of the previous year was Rs 30,000. and outstanding at the end of the current year was Rs 35,000. The subscription received in advance for next year was Rs 9,000 and the received in Advance during the previous year was Rs 8,000. What was the amount recorded in the Receipts and Payment Account?
Option 1: Rs 4,04,000
Option 2: Rs 4,96,000
Option 3: Rs 3,91,000
Option 4: Rs 4,00,000
Question : Subscription received in cash during the current year amounted to Rs. 15000. Subscription outstanding at the end of the previous year was Rs. 500 and outstanding at the end of the current year was Rs. 750 Subscription received in advance for next year was Rs. 250 The amount credited to Income and Expenditure Account will be:
Option 1: Rs. 15,000
Option 2: Rs. 16,500
Option 3: Rs. 31,000
Option 4: Rs. 30,500
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