Question : There are 500 members, each paying an annual subscription of Rs 100, Subscription received during the year Rs 45,000. Subscription received in advance at the beginning of the year Rs 2,400. What will be credited to the Income and Expenditure Account? 

Option 1: Rs 47,400

Option 2: Rs 50,000

Option 3: Rs 52,400

Option 4: Rs 47,400

Question : There are 500 members, each paying an annual subscription of Rs 100, Subscription received during the year Rs 45,000. Subscription received in advance at the beginning of the year Rs 2,400. What will be written on the Assets side of the closing Balance Sheet?

Option 1: Rs.5,000

Option 2: Rs.2,400

Option 3: Rs.45,000

Option 4: Rs.50,000

Question : There are 500 members, each paying an annual subscription of Rs 100, Subscription received during the year Rs 45,000. Subscription received in advance at the beginning of the year Rs 2,400. What will be the treatment of these items in the opening Balance Sheet on the liabilities side?

Option 1: Rs.2,400

Option 2: Rs.5,000

Option 3: Rs.2,600

Option 4: None of the above

Question : There are 1,000 members, each paying an annual subscription of Rs.50. Subscription received during the year is Rs.45,000. Subscriptions received in advance at the beginning of the year Rs.1,800. What will be debited to the Receipts and Payments Account? 

Option 1: Rs.2,400

Option 2: Rs.90,000

Option 3: Rs.45,000

Option 4: Rs.50,000

Question : In Sports complex, there are 450 members each paying an annual subscription of Rs.100 each. Subscription of Rs.20,000 was received in advance for next year and Rs.15,000 was outstanding for the previous year in the beginning of the year. The amount to be credited to Income and Expenditure Account will be:

Option 1: Rs.55,000

Option 2: Rs.40,000

Option 3: Rs.45,000

Option 4: Rs.60,000