A Club is of 200 members. Subscription per member is Rs. 3,000 p.a. Outstanding subscription at the beginning and end of the year were Rs. 18,000 & 28,000 respectively. Amount of subscription to be shown in Income and Expenditure A/c will be ____________.

Rs. 6, 00, 000

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Rs. 6, 18, 000

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Rs. 5, 72, 000

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Rs. 5, 90. 000

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Solution

The correct option is A Rs. 6, 00, 000
The amount to be shown in income and expenditure account is calculated using the formula given below
$T o t a l S u b s c r i p t i o n = S u b s c r i p t i o n r e c e i v e d + O u t s t a n d i n g s u b s c r i p t i o n a t e n d o f y e a r - O u t s t a n d i n g s u b s c r i p t i o n a t b e g i n o f y e a r$
Substitute values in the equation
$T o t a l S u b s c r i p t i o n = R s 3000 \times 20 + R s 28, 000 - R s 18, 000 = R s 6, 00, 000 + R s 10, 000 = R s 6, 10, 000$
Thus, the amount to be shown in income & expendiutre account is $R s 6, 10, 000$ .

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