Outstanding subscription is a/an-
Income
Asset
Liability
None of these
Outstanding subscription is an asset for an NPO as it is receivable from its members.
Subscription income for the year is Rs 52,000; Subscriptions outstanding at the end of the year Rs. 8,000; Subscription outstanding at the beginning of the year Rs. 6,000. Subscription received during the year will be
Subscription received during the year Rs. 1,80,000; Subscriptions outstanding at the end of the year Rs. 20,000; Subscriptions received in advance at the end of the year Rs. 10,000. Subscription outstanding at the end also includes 2,000 pertaining to previous year. The amount of subscription to be credited to Income and Expenditure A/c will be-