From the following information calculate the amount of subscriptions outstanding as on 31st March 2017.
A club has 200 members each paying an annual subscription of Rs.1000. The Receipts and payments Account for the year showed a sum of Rs.2,05,000 received as subscriptions. The following additional information is provided:
Subscriptions outstanding on 31st March 2016 is Rs.30,000
Subscriptions Received in advance on 31st March 2017 is RS.40,000
Subscriptions Received in advance on 31st March 2016 is Rs.14,000

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Solution

Total subscriptions $21000 \times 200$ members $= 200000$
T. subscription recived $= 2, 05, 000$
(-) Subscriptions o/s (op) $(30, 000)$
(-) Subscriptions rec. in adv $(40, 000)$
(closing)
$¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 1, 49, 000 - -------- -$
T. subscription $(2, 00, 000)$
o.s as on 31st, march 17 $¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 51, 000 - ------ -$

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