In a Club, subscription received for current year Rs. 2,50,000. Subscription of current year received in the previous year Rs. 25,000, Subscription out-standing for current year Rs. 45,000, Subscription received in advance in current year Rs. 11,000 and subscription of previous year received in current year Rs. 35,000. At the end of the current year amount of subscription received in advance will be ____________.

11,000

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46,000

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36,000

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60,000

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Solution

The correct option is A 11,000
Option A is correct. At the end of the current year subscription received in advance will be 11,000. Subscription received in advance previous year was for current year. So, that amount is not in advance at the end of current year. Only the amount received in current year for next year is the advance subscription amount i.e. 11000.

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