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From the following particulars, calculate amount of subscriptions to be credited to the Income and Expenditure Account for the year ended 31st March, 2019:

₹

(a) Subscriptions in arrears on 31st March, 2018 500

(b) Subscriptions received in advance on 31st March, 2018 for the year ended on 31st March, 2019 1,100

(c) Total Subscriptions received during the year ended 31st March, 2019 (including ₹ 400 for the year ended 31st March, 2018, ₹ 1,200 for the year ended 31st March, 2020 and ₹ 300 for the year ended 31st March, 2021) 35,400

(d) Subscriptions outstanding for year ended 31st March, 2019 400

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Solution

Statement of Subscriptions

for the year ended March 31, 2019

Particulars

Amount

(₹)

Subscriptions received during 2018-19

35,400

Less: Subscriptions-in-arrears received for 2017-18

(400)

Less: Subscriptions received-in-advance for 2019-20

(1,200)

Less: Subscriptions received-in-advance for 2017-18

(300)

Add: Subscriptions Outstanding for 2018-19

400

Add: Subscriptions received in 2017-18 for 2018-19

1,100

Subscriptions to be credited to Income and Expenditure Account

35,000

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Similar questions

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, 2019, subscriptions received by Kings Club, Delhi were ₹ 4,09,000 including ₹ 5,000 for the year ended 31st March, 2018 and ₹ 10,000 for the year ended 31st March, 2020. At the end of the year ended 31st March, 2019, subscriptions outstanding for the year ended 31st March, 2019 were ₹ 15,000. The subscriptions due but not received at the end of the previous year, i.e., 31st March, 2018 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, 2019.

Q. In the year ended 31st March, 2019, subscriptions received by the Jaipur Literary Society were ₹ 4,20,000. These subscriptions include ₹ 14,000 received for the year ended 31st March, 2018. On 31st March, 2019, subscriptions due but not received were ₹ 10,000. What amount should be credited to Income and Expenditure Account for the year ended 31st March, 2019 as subscription?

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For the year ended 31st March, 2018	1,600
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There are 450 members, each paying an annual subscription of ₹ 200; ₹ 1,800 were in arrears for the year ended 31st March, 2018.
Calculate amount of subscriptions to be credited to Income and Expenditure Account for the year ended 31st March, 2019.

Q. 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
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31st March, 2018 Subscriptions in Arrears 25,000
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Subscriptions received during the year ended 31st March, 2018 - ₹ 3,00,000

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