Numerical Example of Subscription

Q.

Subscriptions received in cash during the year Rs. 5, 000, the amount received in advance for the next year is Rs. 300. Amount outstanding for the current year was Rs. 400. The amount to be credited to the Income and Expenditure Account is-

1. 4000

2. 5100

3. 4200

4. 4600

Q.

Subscriptions received in cash during the year Rs. 15, 000, the amount received in advance for the next year is Rs. 1, 800. The amount outstanding for the current year was Rs.1, 600. The amount to be credited to the Income and Expenditure Account is

1. 12800

2. 15200

3. None of these

4. 14800

Q.

Subscription income for the year is Rs 52, 000; Subscriptions outstanding at the end of the year Rs. 8, 000; Subscription outstanding at the beginning of the year Rs. 6, 000. Subscription received during the year will be

1. 52000

2. 36000

3. 48000

4. 64000

Q.

Subscription received in cash during the year amounted to Rs. 60, 000; subscription received in advance for next year was Rs. 3, 000 and received in advance during the previous year was Rs. 2, 000. Subscription in arrear at the end of the current year was Rs. 5, 400. The amount credited to Income and Expenditure Account will be:

1. Rs. 66400

2. Rs. 53600

3. Rs. 55600

4. Rs. 64400

Q.

Subscription received during the year Rs. 1, 80, 000; Subscriptions outstanding at the end of the year Rs. 20, 000; Subscriptions received in advance at the end of the year Rs. 10, 000. Subscription outstanding at the end also includes 2, 000 pertaining to previous year. The amount of subscription to be credited to Income and Expenditure A/c will be-

1. 210000

2. 190000

3. 170000

4. 200000

Q.

Subscription received in cash during the year amounted to Rs. 40, 000; subscription outstanding at the end of the previous year was Rs. 1, 500 and outstanding at the end of the current year was Rs. 2, 000. Subscription received in advance for next year was Rs. 800. The amount credited to Income and Expenditure Account will be:

1. Rs. 38700

2. Rs. 39700

3. Rs. 40300

4. Rs. 41300

Q.

A non-profit organization received Rs. 10, 000 as the entrance fee of a new member. If 20% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account?

1. Rs. 2, 000

2. Rs. 8, 000

3. Rs. 9, 000

4. Rs. 10, 000

Q. Subscription yet to be received are not shown in the receipts and payments account.

1. True
2. False

Q. Subscription received for current year are shown in which side of income and expenditure account?

1. Credit
2. Debit

Q. Subscription received in 2017-18 is Rs.7, 50, 000 & received in advance as on 31.03.2018 is Rs.40, 000. The subscription income for the year 2017-18 is .

1. Rs. 7, 50, 000
2. Rs. 7, 90, 000
3. Rs. 7, 10, 000
4. Rs. 7, 20, 000