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Question

Subscription received in 2017-18 is Rs.7,50,000 & received in advance as on 31.03.2018 is Rs.40,000. The subscription income for the year 2017-18 is .
  1. Rs. 7,50,000
  2. Rs. 7,90,000
  3. Rs. 7,10,000
  4. Rs. 7,20,000


Solution

The correct option is C Rs. 7,10,000
The subscription income for the year 2017-18 is Rs. 7,10,000.
Subscription income for the
year 2017-18
= Amount received during the year - Subscription received in advance as on 31.03.2018
= Rs. 7,50,000 - Rs. 40,000
= Rs. 7,10,000

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