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In the year e...

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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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Solution

Income and Expenditure Account

for the year ended March 31, 2019

Dr.

Cr.

Expenditure

Amount

(₹)

Income

Amount

(₹)

Subscription

4,20,000

Less: Outstanding for 2017-18

14,000

Add: Outstanding for 218-19

10,000

4,16,000

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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. 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

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)

Subscriptions received during the year ended 31st March , 2019 are:	₹	₹
For the year ended 31st March, 2018	1,600
For the year ended 31st March, 2019	84,400
For the year ended 31st March, 2020	3,200	89,200

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. In the year ended 31st March , 2018 , subscriptions received by Kings Club, Delhi were ₹ 4,09,000 including ₹ 5,000 for the year ended 31st March, 2017 and ₹ 10,000 for the year ended 31st March , 2019. At the end ₹ 15,000. The subscriptions due but not received at the end of the previous year, i.e., 31st March, 2017 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, 2018.

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