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 45,000.
Subscription received in advance in current year Rs. 11,000 and subscription of previous year received in current year Rs. 35,000.
The amount of subscription to be shown in Income and Expenditure Account will be ___________.

2, 74, 000

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226, 000

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3, 09, 000

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3, 20, 000

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Solution

The correct option is A $2, 74, 000$
Subscription amount to be shown in income & expenditure account can be calculated using the formula given below:
$S u b s c r i p t i o n a m o u n t = S u b s c r i p t i o n f o r c u r r e n t y e a r A d d : O u t s t a n d i n g s u b s c r i p t i o n f o r c u r r e n t y e a r A d v a n c e s u b s c r i p t i o n f o r p r e v i o u s y e a r L e s s : O u t s t a n d i n g s u b s c r i p t i o n f o r p r e v i o u s y e a r A d v a n c e s u b s c r i p t i o n f o r c u r r e n t y e a r$
Substitute values in the above equation
$S u b s c r i p t i o n a m o u n t = R s 2, 50, 000 A d d : R s 45, 000 R s 25, 000 L e s s : R s 35, 000 R s 11, 000 = R s 2, 74, 000$

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