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Question
From the following information, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2019:
| ₹ | ||
| 1st April, 2018 | Subscriptions in Arrears | 50,000 |
| Subscriptions Received in Advance | 30,000 | |
| 31st March, 2019 | Subscriptions in Arrears | 25000 |
| Subscriptions Received in Advance | 70,000 |
Subscriptions received during the year ended 31st March, 2019
– ₹ 3,00,000
Subscription still in arrears for the year 2017 – 18 – ₹ 10,000.
Ledger
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Solution
Statement of Subscriptionfor the year ended March 31, 2019
|
Particulars |
Amount (₹) |
|
Subscription received during the year 2018-19 |
3,00,000 |
|
Less: Subscription-in-Arrears for 2017-18 |
50,000 |
|
Add: Subscription-in-Arrears for 2018-19 |
25,000 |
|
Add: Subscription-in Advance for 2018-19 |
30,000 |
|
Less: Subscription-in Advance for 2019-20 |
70,000 |
|
Subscription to be Credited to Income and Expenditure Account |
2,35,000 |
shaalaa.com
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