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 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.50,000

Option 2: Rs.45,000

Option 3: Rs.2,400

Option 4: None of the above

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 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 : Salaries paid Rs 4,500 and salaries debited to Income and Expenditure Account is Rs 5,000, where would the difference be transferred?

Option 1: assets side of closing Balance Sheet

Option 2: assets side of opening Balance Sheet

Option 3: Liabilities side of closing Balance Sheet

Option 4: Liabilities side of opening Balance Sheet