2
Question
From the following information, calculate amount of subscriptions outstanding for the year ended 31st March, 2019:
A club has 200 members each paying an annual subscription of ₹ 1,000. The Receipts and Payments Account for the year showed a sum of ₹ 2,05,000 received as subscriptions. The following additional information is provided :
₹
Subscriptions Outstanding on 31st March, 2018
30,000
Subscriptions Received in Advance on 31st March, 2019
40,000
Subscriptions Received in Advance on 31st March, 2018
14,000
A club has 200 members each paying an annual subscription of ₹ 1,000. The Receipts and Payments Account for the year showed a sum of ₹ 2,05,000 received as subscriptions. The following additional information is provided :
| ₹ | |
| Subscriptions Outstanding on 31st March, 2018 | 30,000 |
| Subscriptions Received in Advance on 31st March, 2019 | 40,000 |
| Subscriptions Received in Advance on 31st March, 2018 | 14,000 |
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Solution
Subscriptions Account
Dr.
for the year ended 31st March, 2019
Cr.
Particulars
Amount
(₹)
Particulars
Amount
(₹)
Income and Expenditure
(200 members × Rs 100 each)
2,00,000
Bank (Subscriptions Received)
2,05,000
Outstanding Subscriptions in the beginning
30,000
Advance Subscriptions in the beginning
14,000
Advance Subscriptions at the end
40,000
Outstanding Subscriptions at the end (Balancing Figure)
51,000
2,70,000
2,70,000
|
Subscriptions Account |
|||||
|
Dr. |
for the year ended 31st March, 2019 |
Cr. |
|||
|
Particulars |
Amount (₹) |
Particulars |
Amount (₹) |
||
|
Income and Expenditure (200 members × Rs 100 each) |
2,00,000 |
Bank (Subscriptions Received) |
2,05,000 |
||
|
Outstanding Subscriptions in the beginning |
30,000 |
Advance Subscriptions in the beginning |
14,000 |
||
|
Advance Subscriptions at the end |
40,000 |
Outstanding Subscriptions at the end (Balancing Figure) |
51,000 |
||
|
2,70,000 |
2,70,000 |
||||
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