Question

                             (Presentation of Subscriptions only)
                               Balance Sheet as on 01/04/2012

Liabilities	Amount (Rs.)	Amount (Rs.)	Assets	Amount (Rs.)	Amount (Rs.)
Subscription received in			Outstanding subscriptions
Advance for 2012-2013		15,000	2010-2011	20,000
			2011-2012	30,000	50,000

Receipts and Payments Account for the year ending on 31-03-2013
Dr.                                                                                                          Cr.

Receipts	Amount (Rs.)	Amount (Rs.)	Payments	Amount (Rs.)	Amount (Rs.)
To subscriptions
2010-2011	16,000
2011-2012	25,000
2012-2013	330,000
2013-2014	19,000

Adjustment:
Outstanding Subscription for 2012-2013 is Rs 22,000. With the above information present the item 'Subscription’ in Income and expenditure Account and Balance sheet for the year ended on 31^st March 2013.

Answer 1

Income and Expenditure Account

                               for the year ending March 31,2013
Dr.                                                                                                          Cr.

Expenditure	Amount (Rs)	Income	Amount (Rs)	Amount (Rs)
		Subscription	330,000	367,000
		Add:Outstanding at the end	22,000
		Add: Advance in the beginning	15,000

Balance Sheet

as on March 31,2013

Liabilities	Amount (Rs)	Assets	Amount (Rs)
Subscription Received in Advance at the end	15,000	Outstanding Subscription (Outstanding for 2010-11 is Rs 4,000 + outstanding for 2011-12 + Rs 5,000 and Outstanding for2 012-13 is Rs 22,000)	31,000