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Question
From the following information, calculate the amount of income from subscriptions to be shown in the Income and Expenditure Account for the year ended 31-3-2011:
|
Subscriptions received during the year 2010-2011 |
Rs |
3,40,000 |
|
Subscriptions outstanding as on 31-3-2011 |
Rs |
47,000 |
|
Subscriptions received in advance as on 31-3-2011 |
Rs |
35,000 |
|
Subscriptions outstanding as on 1-4-2010 |
Rs |
28,000 |
|
Subscriptions received in advance as on 1-4-2010 |
Rs |
25,000 |
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Solution
|
Subscription Account |
|||
|
Dr. |
Cr. |
||
|
Particulars |
Amount Rs |
Particulars |
Amount Rs |
|
Outstanding Subscription A/c (Outstanding subscription in the beginning)
Income and Expenditure A/c (Balancing figure)
Advance Subscription A/c (Advance subscription at the end)
|
28,000
3,49,000
35,000
|
Advance subscription A/c (Advance subscription in the beginning)
Bank A/c (Subscription received during the year)
Outstanding Subscription A/c (outstanding subscription at the end)
|
25,000
3,40,000
47,000
|
|
4,12,000 |
|
4,12,000 |
|
|
|
|
||
