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Question

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. The amount of subscription to be credited to Income and Expennditure account is ______


A

Rs 210000

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B

Rs 190000

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C

Rs 520000

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D

Rs 360000

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Solution

The correct option is B - Rs 1,90,000

Income for the year = 1,80,000 + 20,000 - 10,000
= Rs 1,90,000


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