question_answer

From the following information, calculate outstanding subscription for the year 2018.

Particulars	1st  January, 2018 (Rs.)	31st December, 2018 (Rs.)
Advance Subscription Received	14,000	5,600

Total subscription received during the year is Rs. 56,000. There are total 300 members each paying Rs. 300 p.a.

Answer:

                                                            Calculation of Outstanding Subscription

Particulars	Amt (Rs.)
Total Subscription Due \[(300\times 300)\]	90,000
(+) Advance Subscription at the End	5,600
	95,600
(-) Advance Subscription at the Beginning	(14,000)
	81,600
(-) Subscription Received during the Year	(56,000)
Outstanding Subscription for Current Year	25,600