A cricket club has 50 members and each member pays Rs. 200 as monthly subscription 5 members paid advance subscription for the financial year 1994-95 and 10 members failed to pay subscription for the year 1993-94. The amount to be credited as subscription to income and expenditure account would be.

Rs. 12,000

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Rs. 10,000

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Rs. 9,600

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Rs. 8,000

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Solution

The correct option is B Rs. 10,000
Amount of subscriptions to be credited to the Income and expenditure account is the amount actually earned or due from members in the current year. Amount to be credited is Rs 10,000 (50 x Rs 200).
Rs 10000 is the actual amount earned in the current year.

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A cricket club has 50 members and each member pays Rs. 200 as monthly subscription 5 members paid advance subscription for the financial year 1994-95 and 10 members failed to pay subscription for the year 1993-94. The amount to be credited as subscription to income and expenditure account would be.

The correct option is B Rs. 10,000Amount of subscriptions to be credited to the Income and expenditure account is the amount actually earned or due from members in the current year. Amount to be credited is Rs 10,000 (50 x Rs 200). Rs 10000 is the actual amount earned in the current year.

The correct option is B Rs. 10,000
Amount of subscriptions to be credited to the Income and expenditure account is the amount actually earned or due from members in the current year. Amount to be credited is Rs 10,000 (50 x Rs 200).
Rs 10000 is the actual amount earned in the current year.