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
Correct Answer: Rs 4,96,000
Solution : Subscription credited to Income and Expenditure Account = Rs.5,00,000 (+) Subscription outstanding at the end of the previous year = Rs.30,000 (-) Outstanding at the end of the current year = (Rs.35,000) (+) Subscription received in advance for the next year = Rs.9,000 (-) Received in advance during the previous year = (Rs.8,000) Amount recorded in the Receipts and Payment Account = Rs.4,96,000 Hence, the correct option is 2.
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 : 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
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 : 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
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