Question

There are 500 members in a club each paying ₹ 100 as annual subscription. Subscription due but not received for the current year is ₹ 200; Subscription received in advance is ₹ 300. Find out the amount of subscription to be shown in the income and expenditure account.

Options

• ₹ 50,000

• ₹ 50,200

• ₹ 49,900

• ₹ 49,800

Answer 1

₹ 50,000

Explanation:

Total Subscription Income = Number of Members × Annual Subscription per Member

Total Subscription Income = 500 × 100

= 50,000