wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Rs 20,000 received as the annual membership subscription. Out of this, Rs 4,000 is pertaining to the previous accounting period whereas Rs 2,000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting.


A

Rs 9,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!
B

Rs 18,000

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C

Rs 10,000

No worries! We‘ve got your back. Try BYJU‘S free classes today!
D

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B

Rs 18,000


Income for the year = 20,000 - 4,000 + 2,000 = Rs 18,000


flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Financial Statements of NPO
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon