Advertisements
Advertisements
Question
In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March, 2018. On 31st March, 2019, subscriptions due but not received were ₹ 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2019 as subscription?
Ledger
Advertisements
Solution
|
Income and Expenditure Account for the year ended March 31, 2019 |
||||||
|
Dr. |
|
Cr. |
||||
|
Expenditure |
Amount (₹) |
Income |
Amount (₹) |
|||
|
|
|
Subscription |
4,20,000 |
|
||
|
|
|
Less: Outstanding for 2017-18 |
14,000 |
|
||
|
|
|
Add: Outstanding for 218-19 |
10,000 |
4,16,000 |
||
shaalaa.com
Is there an error in this question or solution?
