Question

From the following information, prepare Subscription Account for the year ending 31st March, 2019:

Particulars	31st March, 2018 (₹)	31st March, 2019 (₹)
Subscription in Arrears	20,000	18,000
Subscription in Advance	13,000	11,000

In the year ending 31st March, 2019, subscription received were ₹ 2,10,000 (including ₹ 6,000 of arrears from previous year) and subscription arrears of previous year were written off ₹ 4,000.

Answer 1

Dr.	Subscriptions A/c					Cr.
Date		Particulars	Amount (₹)	Date	Particulars	Amount (₹)
2018				2018
April 01		To Outstanding Subscriptions A/c	20,000	April 01	By Subscriptions Received in Advance A/c	13,000
2019				2019
March 31		To Subscriptions Received in Advance A/c	11,000	March 31	By Subscriptions written off (Inc. & Exp. A/c)	4,000
March 31		To Income & Expenditure A/c (Bal. Fig.)	2,14,000	March 31	By Bank A/c	2,10,000
				March 31	By Outstanding Subscriptions A/c	18,000
			2,45,000			2,45,000