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Question
From the following particulars, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2019:
| ₹ | ||
| (a) | Subscriptions in arrears on 31st March, 2018 | 500 |
| (b) | Subscriptions received in advance on 31st March, 2018 for the year ended on 31st March, 2019 | 1,100 |
| (c) | Total Subscriptions received during the year ended 31st March, 2019 (including ₹ 400 for the year ended 31st March, 2018, ₹ 1,200 for the year ended 31st March, 2020 and ₹ 300 for the year ended 31st March, 2021) | 35,400 |
| (d) | Subscriptions outstanding for year ended 31st March, 2019 | 400 |
Ledger
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Solution
|
Statement of Subscriptions for the year ended March 31, 2019 |
|
|
Particulars |
Amount (₹) |
|
Subscriptions received during the year 2018-19 |
35,400 |
|
Less: Subscriptions-in-arrears received for 2017-18 |
(400) |
|
Less: Subscriptions received-in-advance for 2019-20 |
(1,200) |
|
Less: Subscriptions received-in-advance for 2020-21 |
(300) |
|
Add: Subscriptions Outstanding for 2018-19 |
400 |
|
Add: Subscriptions received in 2017-18 for 2018-19 |
1,100 |
|
Subscriptions to be credited to Income and Expenditure Account |
35,000 |
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