CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Numerical Example of Subscription

From the foll...

Question

From the following information, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2018:

₹
1st April, 2017 Subscriptions in Arrears 50,000
Subscriptions Received in Advance 30,000
31st March, 2018 Subscriptions in Arrears 25,000
Subscriptions Received in Advance 70,000

Subscriptions received during the year ended 31st March, 2018 - ₹ 3,00,000

Open in App

Solution

Statement of Subscription

for the year ended March 31, 2018

Particulars

Amount

(Rs)

Subscription received during the year 2017-18

3,00,000

Less: Subscription-in-Arrears for 2016-17

50,000

Add: Subscription-in-Arrears for 2017-18

25,000

Add: Subscription-in Advance for 2017-18

30,000

Less: Subscription-in Advance for 2018-19

70,000

Subscription to be Credited to Income and Expenditure Account

2,35,000

Suggest Corrections

thumbs-up

9

Similar questions

Q. From the following particulars , calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2018:
₹
(a) Subscriptions in arrears on 31st March ,2017 500
(b) Subscriptions received in advance on 31st March, 2017 for the year ended on 31st March, 2018 1,100
(c) Total Subscriptions received during the year ended 31st March , 2018 35,400
(including ₹ 400 for the year ended 31st March , 2017, ₹ 1,200 for the year ended
31st March, 2019 and ₹ 300 for the year ended 31st March, 2020)
(d) Subscriptions outstanding for year ended 31st March , 2018 400

Q. How are the following items of subscriptions shown in the Income and Expenditure Account for the year ended 31st March, 2019 and Balance Sheets as at 31st March, 2018 and 2019?

	₹
Subscriptions received during the year ended 31st March, 2019	3,58,500
Subscriptions outstanding on 31st March, 2018	30,000
Subscriptions received in Advance on 31st March,2018	22,500
Subscriptions received in Advance on 31st March, 2019	13,500
Subscriptions outstanding on 31st March, 2019	37,500

(including ₹ 12,500 for the year ended 31st March, 2018)

Q. In the year ended 31st March , 2018, the subscriptions received by the jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March , 2017. On 31st March, 2018, subscriptions due but not received were ₹ 10,000.What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2018 as subscription ?

Q. Subscriptions received during the year ended 31st March , 2018 are:

₹ ₹
For the year ended 31st March, 2017 1,600
For the year ended 31st March,2018 84,400
For the year ended 31st March,2019 3,200 89,200

There are 450 members , each paying an annual subscription of ₹ 200; ₹ 1,800 were in arrears for the year ended 31st March, 2017.
calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2018.

Q. In the year ended 31st March , 2018 , subscriptions received by Kings Club, Delhi were ₹ 4,09,000 including ₹ 5,000 for the year ended 31st March, 2017 and ₹ 10,000 for the year ended 31st March , 2019. At the end ₹ 15,000. The subscriptions due but not received at the end of the previous year, i.e., 31st March, 2017 were ₹ 8,000, while subscriptions received in advance on the same date were ₹ 18,000.

Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2018.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Numerical Example-I

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Numerical Example of Subscription

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon