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Question

Agra Club has 300 members each paying annual subscription of Rs 150 each. In the year 2012 it received Rs 42,500 on account of subscription which included Rs 5,000 for the year 2013 and Rs 2,500 for the year 2011. Find the amount of Subscription outstanding at the end of the year 2012

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Solution

Statement Showing Subscription For the year ending 2012

DetailsAmountSubscription Received in 201242,500Less : O/s fors 20112,500Received in advance for 20135,000 ––––––– 7,500––––––Subscription received for 201235,000Add:Subscription outstanding for 2012(difference)10,000Total subscription for the year(300×150)45,000


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