Question

A Club is of 100 members Subscription per member is Rs. 2,500 p.a. 2,18,000 received during the year 2016-2017 which includes 20,000 and 15,000 subscription for the years 2015-2016 and 2017-2018 respectively. At the end of the year 2016- 2017, the amount of outstanding subscription will be ____________.

• A. Rs. 32, 000
• B. Rs. 52, 000
• C. Rs. 36, 000
• D. Rs. 67, 000

Answer 1

Answer: (D)

Rs. 67, 000

Subscription Received during the year = 2,18,000
Less : Received for year 2015-16 = 20,000
less : Received for year 2017-18 = 15000
Subscription received for the year 2016- 17 =
2,18,000 - 20,000 - 15000
= 1,83,000

Total subscription = 2500* 100 = 2,50,000
Subscription Received = 1,83,000
Subscription outstanding = Rs. 67,000.