(i) | Income from subscription shown in income and expenditure account = Rs. 78,000 |
(ii) | Subscription received in advance as on 31st March, 2018 = Rs. 12,000 |
(iii) | Subscription received in advance as on 31st March, 2017 = Rs. 18,000 |
(iv) | Subscription outstanding as on 31st March, 2018 = Rs. 24,000 |
(v) | Subscription outstanding as on 31st March, 2017 = Rs. 12,000 |
Answer:
Calculation of Receipt from Subscription
Particulars Amt (Rs.) Amount of Subscription as per Income and Expeadehere A/c 78,000 (+) Outstanding Subscription of Previous Year 12,000 Subscription Received in Advance for Next Year 12,000 24,000 1,02,000 (-) Outstanding Subscription of Current Year (24,000) Subscription Received in Advance in Previous Year (18,000) (42,000) Amount Received as Subscription in Current Year 60,000
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